Vietnam Hoa Phat's Apr steel output, sales slump on year

Citing feeble demand for its steel products from both at home and abroad, Hoa Phat Group (HPG), the largest steelmaking group in Vietnam, saw its steel output and sales in April slump compared to the same month last year, according to the Hanoi-based group's latest release.

Last month, Hoa Phat produced 525,000 tonnes of crude steel, declining by 28.8% on year. Meanwhile, the sales volume of its steel products comprising billet, construction steel and hot rolled coil (HRC) also posted a steep on-year drop of 23.8% to total 457,000 tonnes, according to the company's data. In