Vietnam: Hoa Phat construction steel sales up 27% in Jul '20

Hoa Phat Group - one of the leading steelmakers of Vietnam, recently posted its monthly results of Jul '20. The major highlights of the results are as below:

• The company's construction steel sales in Jul '20 was recorded at 300,000 t, an increase of 27.5% y-o-y as against 235,000 t in Jul '19.
  
  
• Sales increased by 19% on a m-o-m basis as against 252,000 t in Jun '20 mainly due to increasing demand in the construction sector.
  
  
• Out of the total sales, exports stood at 53,000 t, which is nearly two times of exports made in Jul '19 i.e 26,800 t.
  
  
• In addition, it produced 169,000 t billets during Jul, up marginally by 2% m-o-m against 165,000 t in Jun '20.
  
  

Production and sales during Jan-Jul '20

• The company's finished steel output in the first seven months of CY '20 (Jan-Jul '20) totaled 1.81 mn t, up 14.5% over the same period last year.
  
  
• Exports of finished steel increased sharply by 73.3% y-o-y to 256,500 t which is equivalent to the export volume of the whole CY '19. Main markets were Japan, Korea, Laos, Malaysia, Australia, Canada, Thailand and Cambodia.
  
  

Photo: Hoa Phat Steel