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Hoa Phat Group’s steel output surpasses 5 million tonnes for first time

The steel output of Hoa Phat Group, Vietnam’s leading steel producer, exceeded the 5-million-tonne benchmark for the first time in 2020.

Of the total output, construction steel reached 3.4 million tonnes, up 22.5 percent year-on-year, while steel billets hit 1.7 million tonnes, and hot rolled coil (HRC) was nearly 700,000 tonnes.

With these figures, Hoa Phat maintained its top position in Vietnam, accounting for 33 percent of the market share, up 6.8 percent year-on-year.

With an output of 784,000 tonnes for the whole year, the southern region recorded a remarkable growth of 70 percent compared to that of the previous year. Meanwhile, the northern region contributed the largest share, with 48 percent of the total finished products sold by Hoa Phat.

Last year, Hoa Phat exported nearly 540,000 tonnes of finished products, doubling against 2019. The group’s main importers include Japan, the Republic of Korea, Canada, Australia, Cambodia, Laos and Malaysia.

In addition, the group also shipped 1.7 million tonnes of square billet for the production of construction steel to Thailand, China, Malaysia, Indonesia and Sri Lanka. Particularly, the export of steel billets to China was 12 times higher than that in 2019.

The number of orders for Hoa Phat’s HRC products has exceeded 300 percent of its production capacity. The HRC output at Hoa Phat Dung Quat Iron and Steel Production Complex in 2020 reached nearly 700,000 tonnes. The group sets a target of 2.7 million tonnes of HRC this year.

VNA

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