Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Vietnam’s Hoa Phat Group maintained its top position in the country’s steel pipes market. In February 2021, steel pipe sales volume totaled 53,200mt, an increase of 11pc from February 2020. In February 2021, steel pipe sales volume totalled 53,200mt, an increase of 11pc from a year ago. The steelmaker supplied over 93,200mt of steel pipes in the first two months of 2021, higher by 8.6pc from the same period the prior year. Earlier, Davis reported that Hoa Phat’s steel overall sales dipped by 25pc in February.


The company believes demand for steel pipe products is strong with prices moving up steadily both in the domestic and overseas markets. Despite the Lunar New Year holidays in China and Tet holidays in Vietnam in mid-February, the company saw increased consumption compared to the previous year. 


In the domestic market steel sales posted a sharp rise. The northern region occupied 45pc of total domestic sales, while the central and southern region formed 29pc and 25pc of the sales volume in Jan-Feb. In the export markets, the US, Australia, Canada, and Hong Kong (China) were the leading destinations in February. 


Hoa Phat Steel Pipe Co., a subsidiary of the Hoa Phat Group also supplied 10,000mt of galvanised steel coil, which is used as a raw material for producing steel pipes, purlin, mechanical accessories, and railings. In February, sales were 17,000mt, up 62pc over the same period in the prior year.


During Jan-Feb 2021, flat sheet output rose by 42,000mt or 91pc from the same period the prior year. The company signed contracts to export corrugated steel products to Europe, the US, and Canada. Hoa Phat expects to sell 920,000mt of steel pipe and 330,000mt of corrugated steel products in 2021, up 12pc and 200pc against 2020’s volume, respectively. 

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