Vietnam-based steel producer Hoa Phat Group has announced that in November this year it produced 623,000 mt of crude steel, up by 0.6 percent month on month. The company’s sales volume in November increased by 12.0 percent month on month to 709,000 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 410,000 mt, up by 20.9 percent month on month, with consumption in all three regions of the country recording growth, owing to the start of the construction season in Vietnam. The company’s HRC sales totaled 270,000 mt, remaining almost stable month on month. Hoa Phat’s galvanized steel and pipe sales in November totaled 37,000 mt and 73,000 mt, up by 44 percent and 34 percent month on month, respectively.
In the January-November period this year, Hoa Phat produced more than 6 million mt of crude steel, down 14 percent year on year. The company’s sales volume in the given period decreased by 10 percent year on year to 5.96 million mt, including construction steel, steel billet and hot rolled coil. In the first 11 months, the company’s construction steel and high-quality steel sales totaled 3.3 million mt, down by 15 percent year on year. The company’s HRC, steel pipe and galvanized steel sales in the given period totaled over 2.5 million mt, 616,000 mt and 304,000 mt, respectively, up by two percent, down by 11 percent and up by two percent, respectively, year on year.
Currently, the group is implementing the Hoa Phat Dung Quat 2 Steel Integrated Complex project in the central province of Quang Ngai with a design capacity of 5.6 million mt of hot rolled steel per year. It is expected that when the project is completed in early 2025 Hoa Phat's annual crude steel production capacity will reach over 14 million mt, equivalent to the top 30 largest steel enterprises in the world.