Vietnam Hoa Phat Group's sales fell 42 percent year on year in October to 492,000 tons, the lowest since February 2021, as domestic and global steel demand continued to decline.
Hot rolled coil sales rose 30% to 267,000 tons as the company exports large volumes to Indonesia and Malaysia.
The Vietnamese steelmaker, which has announced that it will close its 5 blast furnaces in a recent announcement, is said to be a difficult situation for the company if the decline in steel demand continues for a long time.
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