Vietnam’s Hoa Phat posts record monthly crude steel output for January

Friday, 05 February 2021 17:00:07 (GMT+3)   |   Istanbul
       

Vietnam-based steelmaker Hoa Phat Group has announced that it produced more than 670,000 mt of crude steel in January this year, up by 67 percent year on year, constituting the company’s highest monthly output ever.

The company stated that its blast furnace No. 4 at Hoa Phat Dung Quat Iron and Steel Complex was restarted in January, increasing the company’s total crude steel output to eight million mt per year. The company aims to promote production and supply of hot rolled coil for the domestic market with the resumption of the blast furnace.  

In the given month, Hoa Phat’s finished construction steel output totaled 186,000 mt, increasing by six percent year on year, of which 37,000 mt was exported, up by 38 percent compared to the corresponding month of 2020. The company’s billet sales to the domestic and export markets reached nearly 140,000 mt, up by 40 percent, while its hot rolled coil sales totaled 252,000 mt, up by 48 percent, both year on year.

In 2021, Hoa Phat Group aims to produce 2.7 million mt of hot rolled coil and over five million mt of construction steel and billet, as SteelOrbis previously reported.


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