The COVID-19 epidemic has led to a slump in Vietnam’s domestic market. Many local construction projects have been postponed, which severely affected the demand for construction steel. However, the export volume of local mills has grown against the current trend.
The sales volume of hot-rolled coils in July increased by 82.7% year on year, and the export volume of steels rose by 55% year on year.
In addition, Hoa Sen Group’s sales as of July this year reached 1.1 million tons, with a market share of 36.7%, and Nam Kim Steel also had 498,000 tons, accounting for 16.8%.
At present, the European and North American markets have boosted demand for galvanized steel and steel bars, and Hoa Phat Group is also active in overseas sales.
www.ferroalloynet.com
