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Vietnam's Hoa Phat sees 32% increase in construction steel sales in May from April

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Vietnam-based steel manufacturer Hoa Phat Group has actually announced that it generated 780,000 mt of crude steel in May this year, up by 16 percent year on year, while sales of steel items consisting of building steel, hot rolled coil (HRC) as well as billet got to 660,000 mt, up by 10 percent contrasted to the very same month last year.In May, the company's construction steel sales amounted to 393,000 mt, raising by 32 percentwarm rolled steel in coils month on manufacturing facility directly warm rolled steel coil rate suppliersmonth and also up by 21 percent year on year. The building and construction steel export quantity in the offered month totaled up to 167,000 mt, more than two times greater than Might 2021. Hoa Phat's billet sales volume in May was 63,000 mt for domestic and also international markets.In the given month, Hoa Phat's HRC sales were 200,000 mt, down by 10 percent, while its steel pipeline sales amounted to 51,000 mt, reducing by 20 percent, both year on year.In the January-May duration this year, the business produced 3.6 million mt of unrefined steel, up by 10 percent year on year, while sales of steel items consisting of building steel, warm rolled coil (HRC) as well as billet got to 3.4 million mt, up by 5 percent contrasted to the very same duration last year.In the offered period, Hoa Phat's building steel sales totaled up to two million mt, up by 26 percent year on year. In the initial 5 months, the company's HRC sales amounted to 1.2 million mt, while its steel pipe sales involved 300,000 mt and also covered steel sheet sales were 152,000 mt.

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