The implementation of many large projects after the social distancing period and disbursement of public investment for infrastructure until the end of this year are expected to support growth in construction steel consumption.
Construction steel production reached a record high of 351,000 tonnes in March, up 42.2 per cent year-on-year, leading steel maker Hoa Phat Group has announced.
Hoa Phat Group has set to ship 400,000 tonnes of construction steel abroad, equivalent to nearly 10 per cent of its yearly sale target, according to the multi-sectoral conglomerate.
Hoa Phat Group has said it sold 226,000 tonnes of construction steel in May with a 3.5-fold increase in the southern market, raising the five-month figure to 1.16 million tonnes, up 22.4 per cent year on year.
Sales of Hoa Phat construction steel in the first month of this year hit 250,000 tonnes, a 27 per cent year-on-year rise and equal to record sales in October 2018.
Hoa Phat Group recorded a revenue of over VND21 trillion (US$925 million) and an after-tax profit of VND3.47 trillion in the first half of 2017, a year-on-year increase of 36 per cent and 14 per cent, respectively.
The construction steel sector produced a record-high output of 618,000
tonnes in October, about a 30 per cent year-on-year increase, the Viet
Nam Steel Association (VSA) said.