Hoa Phat Joint Stock : posted 8 million tons of steel output, HRC reached 3 million tons in 11 months

In November 2021, Hoa Phat Group reached an output of 765,000 tons of steels which was equivalent to the same period last year. Finished construction steel recorded more than 271,000 tons, of which the export alone was more than 100,000 tons, 2.3 times higher than the corresponding period last year. Hot rolled coil (HRC) output reached a high level of 206,000 tons. Hoa Phat's steel sheet surpassed 60,000 tons for the first time, reaching the highest level so far.

Hoa Phat posted 8 million tons of steel output, HRC reached 3 million tons in 11 months

Last month, its export volume of construction steel and galvanized steel of all kinds were surged. Its construction steel reached more than 100,000 tons, 2.3 times higher than the same period last year. Meanwhile, Hoa Phat steel sheet's exports was up to 55,000 tons a month for the first time, mainly from the increasing demand for galvanized steel sheets in the US and European markets.

In the first 11 months of the year, Hoa Phat Group achieved total steel sales of million tons, posting 33 per cent year-on-year increase. Construction steel was 3.5 million tons, up 15 per cent from the same period last year. Of which, the export of finished construction steel alone reached 914,000 tons, representing 90 per cent year-on-year hike.

The output of hot rolled coil (HRC) was more than 2.3 million tons. Since the launch of the first HRC product in May 2020, Hoa Phat Group has reached the milestone of 3 million tons in early December 2021.

In the 11-month period, Hoa Phat steel sheet reached 380,000 tons, up 150 per cent over the same period last year and exceeding the whole year's set target. This result was mainly due to the prosperous export market of corrugated iron products, contributing 68 per cent of Hoa Phat's galvanized steel sales volume so far this year. With the advantage of being self-sufficient in hot-rolled steel coil materials, Hoa Phat's galvanized sheet and steel pipe products have many advantages in the export market, especially the US and EU.

Hoa Phat's steel sheet surpassed the whole year's set target after 11 months

Hoa Phat has a capacity of 8 million tons a year, including 5 million tons of steel billet and construction steel, 3 million tons of hot-rolled coil (HRC). With HRC downstream products, the group's yearly steel pipe capacity is one million tons, while that of galvanized steel is 400,000 tons a year. Hoa Phat Group is promoting the progress of a container production project in souther province of Ba Ria - Vung Tau with an annual capacity of about 200,000 TEUs. The project is expected to launch trial production in the third quarter of 2022.

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