Vietnam's Hoa Phat sees May steel output, sales drop on year

Hoa Phat Group (HPG), the largest steelmaking group in Vietnam, has announced on-year declines in both its steel output and sales in May, according to the Hanoi-based group's latest release.

Last month, Hoa Phat produced some 565,000 tonnes of crude steel in total, dropping by 27.6% on year, according to the release. But the volume was about 40,000 tonnes higher compared with April, Mysteel calculated based on HPG's data. Meanwhile, the sales volume of the group's steel products comprising billet, construction steel