Hoa Phat sells 3 million tonnes of steel in Q1, up 26% year-on-year

In the first quarter of 2026, Hoa Phat Group produced 3.3 million tonnes of crude steel (steel billets), up 25% year-on-year and 8% compared to the previous quarter. Total sales of construction steel, high-quality steel coil, hot-rolled coil (HRC) and billets reached 3 million tonnes, marking a 26% increase compared to the same period last year.

Of this, construction steel and high-quality steel accounted for 1.4 million tonnes, up 20% year-on-year and 8% quarter-on-quarter. Hoa Phat maintained its leading position in Vietnam with a 36% market share and expanded its presence to more than 45 countries and territories across five continents. Its steel products have been widely used in major infrastructure projects, including the expansion of Tan Son Nhat Airport, Phu Quoc Airport, the US Embassy in Hanoi, the North–South Expressway, the Long Thanh – Dau Giay Expressway, My Thuan 2 Bridge, the pedestrian bridge over the Sai Gon River, and new bridges across the Red River such as Tran Hung Dao and Ngoc Hoi.

Sales of hot-rolled coil (HRC) exceeded 1.4 million tonnes in the quarter, up 48% year-on-year. Domestic consumption accounted for nearly 80% of total HRC sales, with the remainder exported. Hoa Phat has exported HRC to 20 countries and territories across Asia, Europe, the Americas and Africa.

The group also manufactures and supplies a wide range of downstream steel products for both domestic and export markets, including steel pipes, coated sheets and prestressed steel. In Q1, Hoa Phat sold 241,000 tonnes of steel pipes and 106,000 tonnes of coated sheets, up 30% and 19% year-on-year, respectively. Sales of prestressed steel and wire products exceeded 62,000 tonnes, representing a 63% increase compared to the same period last year.

Hoa Phat is currently the largest steel producer in Southeast Asia, with crude steel capacity expected to reach 16 million tonnes per year by the end of 2026. More than 60% of its output consists of high-quality steel products serving industries such as mechanical engineering, automotive manufacturing, shipbuilding, oil and gas, home appliances, steel structures and energy. Notably, Hoa Phat is the only Vietnamese company capable of producing hot-rolled coil (HRC).

The group is also accelerating the development of its rail and special steel production plant at the Dung Quat Economic Zone in Quang Ngai Province. After three months of construction, the project has reached 35% completion and is expected to begin producing railway steel in 2027, supplying key domestic railway projects and export markets.