Hoa Phat steel sales up despite higher raw material prices hinh anh 1Construction steel produced by Hoa Phat Group (Photo: VNA)
Hanoi (VNA) - Vietnam’s largest steelmaker, the Hoa Phat Group, sold a total of 3.7 million tonnes of steel products in the first five months of this year, up nearly 70 percent against the same period last year.

The sale of construction steel hit 1.6 million tonnes, an increase of 27.5 percent, while that of square steel billet reach 576,000 tonnes, more or less the same year-on-year.

Hoa Phat also produced nearly 3.4 million tonnes of pig iron in the first five months, surging 56.5 percent year-on-year.

It produced 1.1 million tonnes of hot rolled coil (HRC) for the domestic market, along with 334,000 tonnes of steel pipe and 123,000 tonnes of coated steel sheet, posting year-on-year rises of 21 percent and 270 percent, respectively.

Despite a rise in material prices in May, the sale of Hoa Phat’s construction steel in the central region saw the highest growth in the country, of 45 percent, while in the northern region the growth hit 22 percent.

It sold 695,000 tonnes of steel products during the month, comprising 324,000 tonnes of construction steel, up 25 percent, and 225,000 tonnes of HRC.

The steelmaker shipped 70,000 tonnes of construction steel and 52,000 tonnes of billet abroad in the period.

Hoa Phat currently boasts a production capacity of 8 million tonnes annually. This year, it aims to produce 5 million tonnes of construction steel and billet, 2.7 million tonnes of HRC, 920,000 tonnes of pipe, and more than 300,000 tonnes of coated steel sheet./.