Hoa Phat's crude steel production decreased

Vietnam's largest steel producer Hoa Phat Group reported that crude steel production in May was 565,000 tonnes, down 27% y-o-y.

Hot rolled coil production in the period reached 243,000 tonnes, up 19% y-o-y, the highest level since the beginning of the year. Rebar production decreased 27% y-o-y to 284,000 tonnes, steel pipe output increased 12% y-o-y to 57,000 tonnes and galvanised steel output doubled to 34,000 tonnes.

Meanwhile, Hoa Phat's sales in May, including hot rolled coil, rebar and billet, decreased by 20% y-o-y to 530,000 tonnes.