Posted on 09 Jun 2023
Hoa Phat Group, the largest steel manufacturer in Vietnam, reported that its crude steel production was 565,000 tons in May, falling by 27% compared to the same month a year ago.
During the period, the output of hot-rolled coil hit the highest since the beginning of the year, reaching 243,000 tons, a year-on-year increase of 19%. Construction steel production slid by 27% to 284,000 tons, steel pipe production grew by 12% to 57,000 tons, and galvanized steel output doubled to 34,000 tons, all on a year-on-year basis.
Besides, Hoa Phat’s sales in May dropped by 20% year on year to 530,000 tons, including hot-rolled coils, construction steel products, and billets.
Source:Yieh
