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Hoa Phat Sells 8.8 Million Tons Of Steel In 2021, A Record Month Selling More Than 1 Million Tons

11/01/2022

In December, Hoa Phat sold 799,000 tons of steel, up 14% over the same period. In which, finished construction steel is 353,000 tons, up 10%. Construction steel exports in December continued to achieve high output with nearly 94,000 tons, up 59% over the same period. HRC reached 217,000 tons, the rest was billet, steel pipe and galvanized sheet. 

In the context of many difficulties due to the COVID-19 epidemic, Hoa Phat said that Hoa Phat iron and steel production complexes in Hai Duong, Dung Quat – Quang Ngai, Hung Yen are still operating at full capacity to serve the abroad market in the near future.

In the past year, Hoa Phat has supplied the market with a total of 8.8 million tons of steel including billet, construction steel, HRC, steel pipe and corrugated iron, up 35% over the same period. 2021 is also the first time Hoa Phat has reached sales volume of over 1 million tons of steel in a month. 

Construction steel and HRC contributed mainly to sales volume. Construction steel recorded 3.9 million tons, up 14% over the same period and contributed 44% of total steel output of all kinds. HRC reached 2.6 million tons, tripled in 2020 and contributed 28% of total output. In addition, galvanized steel products in 2021 exceeded the design capacity for the first time when reaching 428,000 tons. 

Export activities make an important contribution to output in 2021. For the first time, export of billet and construction steel recorded 2.3 million tons. Hoa Phat’s main export markets are Canada, Australia, Japan, Korea, China…

Galvanized sheet products for export reached 297,000 tons, contributing 69% of the total amount of steel sheet Hoa Phat supplied to the market. The export promotion helps Hoa Phat diversify its consumption markets while the domestic market is affected by the COVID-19 pandemic, and at the same time contributes to foreign currency collection and balance of Vietnam’s trade balance. 

In terms of market share, Hoa Phat continues to hold the No. 1 position in Vietnam in terms of construction steel and steel pipes. Ton Hoa Phat is in the Top 5 enterprises holding the largest market share. Hoa Phat is also the only Vietnamese enterprise that can produce HRC. 

With a capacity of over 8 million tons/year, Hoa Phat is the largest steel producer in Vietnam, equivalent to the Top 50 largest steel enterprises in the world. From 2022, the Group will implement the Hoa Phat Dung Quat 2 Iron and Steel Complex project, with a capacity of 5.6 million tons/year. It is expected that when completed in 2025, Hoa Phat’s steel output will reach about 14 million tons/year, reaching the Top 30 largest steel enterprises in the world.

Source: Nhịp song kinh te

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