Hoa Phat posts the largest crude steel production volume in Vietnam for the first time in a month

In September 2020, Hoa Phat Group officially took the leading position in term of crude steel output in the market. Specifically, its crude steel output last month was 575,000 tonnes, higher than amount of 509,000 tons of Formosa Ha Tinh Company. Thus, at this production rate, Hoa Phat is expected to become the largest steel producer in Vietnam right in 2020.

Hoa Phat posts the largest crude steel production volume in Vietnam for the first time in a month

This has been the highest output of the group so far. Its iron and steel production complexes have been operated at their maximum capacity. In which, three blast furnaces of Hoa Phat Dung Quat Iron and Steel Complex are operating stably, contributing more than 60 per cent of the mentioned above crude steel output.

The square billet products for construction steel production reached nearly 474,000 tonnes while the remaining is flat billets for hot rolled coil (HRC) production. High crude steel output is an important foundation to increase construction steel and HRC production serving the market. This has helped Hoa Phat construction steel reach 522,000 tonnes in September, in which finished steel output were 352,000 tonnes representing 82.3 per cent year-on-year increase.

In the first 9 months of the year, Hoa Phat Steel posted over 4 million tonnes of crude steel, 2 times higher than the corresponding period last year. Of which, the sale of construction steel reached nearly 2.5 million tonnes. The remaining was steel billets and HRC. Alone finished steel rose by 27 per cent from the same period last year. Hoa Phat’s steel market share continued to take the leading position in the country with 32,6 per cent. In addition to its No 1 position in the local market, Hoa Phat shipped more than 370,000 tonnes, posting 95 per cent year-on-year rise. The total volume of steel billet supplied to customers under signed contracts was 1.25 million tonnes.

In addition to steel billets and finished construction steel, Hoa Phat Dung Quat Iron and Steel Complex has been increasing its HRC output with good quality. The HRC output reached 230,000 tonnes so far, contributing to the autonomy of raw materials for the group's steel pipe and galvanized steel factories.

Hoa Phat Steel has always been favoured thanks to its advantages of iron ore production and blast furnace technology, modern oxygen blasting furnace with high purity, clean impurities, meeting all the most strict technical standards.

Nghi Tran