Hoa Phat Group’s crude steel production increased by 56.5pc to almost 3.4mn mt within the first five months of 2021 when compared to the previous year. Steel sales including steel billet, construction steel, hot-rolled coil, steel sheet and steel pipe rose by 70pc to 3.7mn mt.
The company recorded 1.6mn mt in construction steel sales, a 27.5pc increase from last year’s total, while the sales of square steel billet were the same as the previous year at 576,000mt.
Hoa Phat supplied the local market with 1.1mn mt of hot-rolled coil steel (HRC) during the January to May period. Steel pipes and galvanized sheet sales grew by 21pc and 270pc respectively, to 334,000mt and 123,000mt within the same timeframe. However, as a result of the pandemic, steel pipe sales recorded a 10pc decline to 63,000mt in May when compared to the previous year.
The group sold 225,000mt HRC in May and 30,000mt of galvanized steel. Exports of galvanized steel accounted for 65pc of total sales at almost 20,000mt.
Hoa Phat recorded 695,000mt of steel sales in May 2021. Finished construction steel sales, inclusive of exports rose by 25pc to 324,000mt when compared to the previous year. In May, the group exported 52,000mt of billet due to limiting exports to up domestic supply.
Predicted output for 2021 for Hoa Phat is 5mn mt of finished construction steel and steel billet, 2.7mn mt of HRC, 920,000mt of steel pipes and over 300,000mt of galvanized steel