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

Vietnamese steelmaker Hoa Phat’s crude steel production increased to 700,000mt in July, up by 70pc from a year ago with sales at 600,000mt.


Construction steel sales grew by 58pc in July to reach 363,000mt supported by public infrastructure works during the lockdown. Construction of roads, bridges, airports, and hospitals continued in many regions despite the lockdown. Hoa Phat’s sales in the North rose by 50pc, while it was up 20pc in the Central region compared to last year. HRC sales were 160,000mt in July.


In the Jan-July period, crude steel production rose to 4.8mn mt, up by 58pc from the prior-year period. Total steel products sales increased to 4.9mn mt, up by 64pc from a year ago. Of which, construction steel sales rose by 22pc to 2.2mn mt and HRC sales were approximately 1.5mn mt.


In terms of HRC products, steel pipe sales were flat at 419,000mt in Jan-July, compared to last year. Galvanized steel products sales increased to a record 188,000mt, up 2.7 times from the prior-year period.


Hoa Phat is a major steel producer in Vietnam, with annual crude steel production of 8mn mt. The company’s plants are operating at normal production levels adhering to social distancing protocols laid down by the government. Vietnam’s Ministry of Industry and Trade, on July 27, issued a clarification notifying the iron and steel industry as essential raw materials and allowed the circulation and transportation of these goods during the pandemic.

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