Hoa Phat Group, the leading Vietnamese steel producer, managed to increase sales of finished steel products by 19 percent from June and 27.5 percent above the same month last year to 300,000 mt in July. Exports of finished steel amounted to 53,500 mt, nearly two times above over last year.
Higher steel consumption in civil construction in Vietnam has been the major driver of better operational results of Hoa Phat. “The government’s policy of promoting public investment has recently begun to come into practice. Many infrastructure projects and projects are implemented,” the company stated.
In the June-July period, Hoa Phat supplied 1.81 million mt of finished steel to the local and external, an increase of 14.5 percent over the same period last year.
Hoa Phat has saved its positions in the billet export market. In July, total billet supplies from the company totaled 169,000 mt, almost stable compared to 165,000 mt in June. Total sales of billet for the first seven months of 2020 were 1 million mt.