Hoa Phat increases steel supply for welding rod

Low carbon steel for making welding rods posted the strongest growth in the total steel consumption in 2017.The product’s sale rose by 5.6 times in 2017 compared to 2016 to reach 266,000 tonnes.

Hoa Phat Group achieved the steel output and sale of 2.2 tonnes of construction steel in 2017, representing a 20 per cent year-on-year rise. Its steel market share increased from 22.2 per cent in 2016 to 24 per cent in 2017.

Hoa Phat shipped more than 162,000 tonnes of steel bars and rolled steel to the United States, Canada, Australia, and Japan, in addition to Malaysia and Cambodia, among others. The group’s export output has been increased in demanding markets, showing its high competitiveness.

High quality rolled steel of Hoa Phat Group has been given positive response from welding rod plant

The steel for welding rods labelled SAE1006, SAE1008… have been well received by both local and foreign markets. Hoa Phat Group exported 94,000 tonnes of the special steel out of its total output of 266,000 tonnes. The remaining amount has been served to the local welding businesses.

A leader from Hoa Phat Steel One Member Limited Company said the steel output in 2017 surpassed its designed capacity, creating abundant supply for the market. Specifically, Hoa Phat has enhanced low carbon steel for welding rods, thus gradually reducing dependence on the imported product.

Hoa Phat would further promote production of the steel for welding rods to ensure supply in the market in 2018.

Nghi Tran