Vietnam-based steel producer Hoa Phat Group has announced its production and sales results for the second quarter and first half this year.
In the second quarter, the company produced 2.5 million mt of crude steel, up by 10 percent year on year, while its steel sales volume increased by 18 percent year on year reaching 2.6 million mt, including construction steel, billet and hot rolled coil. In the given period the company’s HRC sales exceeded 1.1 million mt for the first time, while the company’s construction steel and high-quality steel sales totaled 1.3 million mt. In the given quarter, Hoa Phat’s coated steel and pipe sales amounted to 110,000 mt and 216,000 mt, respectively.
In the first half this year, the company produced 5.1 million mt of crude steel, up by 17 percent year on year, while its steel sales volume increased by 23 percent year on year reaching five million mt, including construction steel, billet and hot rolled coil. In particular, the company’s HRC sales totaled 2.2 million mt, up by 42 percent, while its construction steel and high-quality steel sales amounted to 2.5 million mt, up by 11 percent, both year on year.
Currently, Hoa Phat is focusing on completing and commissioning blast furnace No. 6, aiming to finish phase 2 of the Hoa Phat Dung Quat 2 Iron and Steel Integrated Complex by September this year. Upon completion, Hoa Phat’s total annual steel production capacity will reach 16 million mt, including 8.5 million mt of HRC - fully meeting domestic market demand for this product.
