Vietnam-based steelmaker Hoa Phat Group has announced that it achieved record steel sales of more than five million mt in 2020, including 3.4 million mt of finished steel and 1.7 million mt of billet. The company’s hot rolled coil (HRC) sales reached nearly 700,000 mt in the given year.
With 784,000 mt of finished steel output in 2020, the southern region of Vietnam recorded a remarkable growth of 70 percent in finished steel sales by Hoa Phat compared to the previous year. Meanwhile, the northern region accounted for 48 percent of the total finished steel products sold by Hoa Phat in the given year. In the central region of the country, despite the coronavirus pandemic and unfavorable weather conditions, the company’s finished steel sales volume still grew slightly compared to 2019. Hoa Phat maintained its top position in Vietnam with 33 percent of the market share, with its sales up 6.8 percent year on year.
In 2020, the company’s exports of finished steel reached nearly 540,000 mt, doubling from the previous year. Hoa Phat Group also exported 1.7 million mt of square billet for construction steel production in 2020. The company’s main export markets included Japan, South Korea, Malaysia, Australia, Canada, Taiwan, Thailand, Indonesia, Cambodia and Laos.
In December last year, Hoa Phat’s finished steel output reached 329,000 mt, up 12 percent, while its finished steel exports amounted to 59,000 mt, increasing by 48 percent, both year on year. The company’s steel billet sales amounted to 90,000 mt in the given month.
Meanwhile, the number of orders for Hoa Phat’s HRC products has exceeded 300 percent of its production capacity. Hoa Phat Group aims to produce 2.7 million mt of HRC in 2021 to meet the needs of steel pipe and galvanized steel pipe manufacturers and other mechanical engineering industries, helping the steel industry in Vietnam to actively supply raw input materials for domestic enterprises as well as boosting exports.