Vietnam's Hoa Phat says H1 steel output, sales both drop YoY

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

In the first half of the year, Hoa Phat Group produced 2.86 million tonnes of crude steel in total, dropping by 34% compared to the same period last year. Meanwhile, the group's sales volume of construction steel, billet and hot-rolled coil (HRC) reached 2.9 million tonnes, or lower by 27% on year, HPG's