Hoa Phat Group becomes the largest steelmaker in Vietnam

In the first quarter of the year, Hoa Phat Group produced 2 million tonnes of crude steel, posting 60 per cent year-on-year increase. The output has made Hoa Phat become the largest steel producer in the country.

Formosa Ha Tinh took the second position with an output of 1.62 million tonnes, 20 per cent lower than that of Hoa Phat Group.

Alone in March, Hoa Phat Group produced 700,000 tonnes of crude steel, increasing 56 per cent over the same period last year. This has been the largest level so far. Hoa Phat continued to take the leading position in the steel construction and steel pipe with market shares of 33.8 per cent and 30.19 per cent respectively. Hoa Phat steel sheet, accounting for 6 per cent of the country’s total, has been also in the Top 5 producers in Vietnam with largest market share.

Hoa Phat Group's crude steel production reached over 8 million tonnes a year, including over 5 million tonnes of construction steel and 3 million tonnes of hot rolled coil (HRC). Of which, Hoa Phat Dung Quat Steel Integrated Complex is the largest with a yearly production output of 5.2 million tonnes, followed by Hoa Phat Hai Duong Steel Integrated Complex with 2.5 million tonnes a year. The steel mill complex in Hung Yen has a capacity of 400,000 tonnes a year. It is expected that when the Hoa Phat Dung Quat 2 project comes into operation, Hoa Phat's crude steel output will reach 14 million tonnes a year.

Currently, Hoa Phat is among the Top 50 largest steel companies in the world. Since the first quarter of 2021, Hoa Phat has become the largest steel producer in Vietnam as well as in Southeast Asia, possessing the most diverse ecosystem of steel products from iron ore.

Nghi Tran