Hoa Phat ships record 25,000 tonnes after Tet, signals strong 2026 growth

On the first working day after the Tet (Lunar New Year), Hoa Phat Group reported sales of 25,000 tonnes of construction steel, high-quality steel and steel pipes - an exceptionally strong start that signals a positive growth outlook for the steel industry in 2026.

Hoa Phat keeps its furnaces running through Tet, shipping a record 25,000 tonnes of steel at the start of the new year.

Vietnam’s development strategy aims for the country to achieve upper-middle-income status by 2030, supported by modern industry and advanced urban transport infrastructure. In line with this direction, a series of major public investment projects are being accelerated nationwide, including the North–South Expressway network, Long Thanh International Airport, Gia Binh International Airport, urban metro lines in Hanoi and HCM City, the Olympic Sports Urban Area, social housing projects and multi-functional urban developments.

These large-scale infrastructure and urban projects are expected to drive strong demand for construction steel in the coming years.

Hoa Phat maintained full production throughout the Tet Holiday, with its steel complexes operating around the clock in three continuous shifts to meet market demand. A large number of orders were executed immediately in the opening days of the new year.

According to Kieu Chi Cong, Director of Hoa Phat Steel Hung Yen, rising construction activity is set to fuel robust growth for the steel sector this year. Hoa Phat plans to maximise production capacity across all its plants. Notably, in 2026 the Hoa Phat Dung Quat Iron and Steel Integrated Complex will reach its full designed capacity of 12 million tonnes of steel per year.

Hoa Phat is currently the largest steel producer in Southeast Asia and is projected to reach a total capacity of 16 million tonnes annually by the end of 2026. Around 60 per cent of its output consists of high-grade steel products serving industries such as mechanical engineering, high-speed rail, automotive manufacturing, shipbuilding, oil and gas, home appliances, steel structures and energy.

The group is also the only Vietnamese enterprise capable of producing hot-rolled coil (HRC) steel domestically.