Vietnam-based steel producer Hoa Phat Group has announced its production and sales results for the first quarter this year.
In the first quarter, the company produced 2.66 million mt of crude steel, up by 25 percent year on year, while its steel sales volume increased by 29 percent year on year reaching 2.38 million mt, including construction steel, steel billet and hot rolled coil. In particular, in the given period the company’s HRC production totaled 993,000 mt, up by 23 percent, while its HRC sales amounted to 874,000 mt, increasing nine percent, both year on year. In addition, Hoa Phat’s construction steel and high-quality steel sales totaled 1.19 million mt, up by 25 percent year on year, while its billet sales amounted to 198,000 mt.
In the given quarter, the company’s galvanized steel sales decreased by nine percent to 89,000 mt, while its steel pipe sales rose by 42 percent to 185,000 mt, both year on year.
The company expects to complete the second phase of its Hoa Phat Dung Quat 2 Steel Integrated Complex by the fourth quarter this year. By the end of 2025, Hoa Phat’s annual steel production capacity will reach 15 million mt.
