Vietnam’s Hoa Phat group recorded crude steel production of 5.4mn mt in Jan-Aug 2021 period, which is up by 56pc against the prior year period. Despite slow trade and unprecedented logistic challenges caused by the new wave of COVID 19, the company managed to increase output on better demand and less impact on production activities in comparison to the prior year.
Hoa Phat’s factories and steel production complexes in Hung Yen, Hai Duong and Quang Ngai maintained continuous operations taking all necessary COVID19-related preventive measures. The company gained the largest market share in Vietnam.
In August 2021, Hoa Phat produced 681,000mt crude steel, an increase of 40pc over the same period.
For the full year 2021, Hoa Phat Group expects to boost crude steel production to over 8mn mt to reach full capacity. The producer also targets to sell 5mn mt of construction steel and billet, 3mn mt of HRC and over 300,000mt of HDG steel products.
During Jan-August 2021, the sales volume of finished steel of all kinds reached 5.6mn mt, up 47pc over the same period. Of which, sales of construction steel construction were at 2.5mn mt, an increase of 16pc against Jan-Aug 2020.
Sales of steel pipe products recorded at 458,000mt, higher by 92pc against the same period last year. HRC sales were at 218,000mt, multiplying 2.4 times than the same period in 2020.
In August 2021, sales volume of steel products reached 690,000mt. Construction steel reached 268,000mt, down 17pc over the same period.
Meanwhile, many regions such as Hanoi, Ho Chi Minh City and the southern provinces strengthened social distancing, resulting in lower demand and consequently, the sales volume of construction steel and steel pipe decreased over the same period.