Vietnam-based steel producer Hoa Phat Group has announced that in December last year it produced 648,000 mt of crude steel, up by 4.0 percent month on month. The company’s sales volume in December increased by 7.0 percent month on month to 760,000 mt, including construction steel, steel billet and hot rolled coil. In particular, in the given month the company’s construction steel and high-quality steel sales totaled 462,000 mt, up by 13.0 percent month on month.
Hoa Phat stated that the domestic market, including the civil sector and public investment projects, has shown more positive signs after a long quiet period. Hoa Phat’s construction steel products have been used in several projects, including Long Thanh International Airport project, Dien Bien Airport expansion, the Tan Son Nhat airport renovation project and the North-South Expressway.
Hoa Phat Group exported 113,000 mt of construction steel and high-quality steel to foreign markets in December last year. The group also exported 103,000 mt of HRC, contributing to nearly 40 percent of Hoa Phat's total hot rolled steel coil sales volume in December. Sales of HRC downstream products including steel pipes and galvanized steel sheets reached 68,000 mt and 24,000 mt respectively. The steel export markets in December included 30 countries and territories such as Canada, South Korea, Japan, Singapore, Australia, and Sri Lanka.
In 2023, Hoa Phat produced 6.7 million mt of crude steel, down 10.0 percent year on year. The company’s sales volume in the given period decreased by 7.0 percent year on year to 6.72 million mt, including construction steel, steel billet and hot rolled coil. In the same period, the company’s construction steel and high-quality steel sales totaled 3.78 million mt, down by 11.0 percent year on year. The company’s HRC sales in the given period totaled over 2.8 million mt, up 6.0 percent year on year. Steel pipe sales increased by 9.0 percent to 685,000 mt compared to 2022 and galvanized sheet sales remained stable at 329,000 mt.
The group currently has a crude steel capacity of 8.5 million mt per year, the largest in Vietnam and Southeast Asia.