Posted on 08 Nov 2022
In order to maintain normal operation amid the current difficult market conditions, Hoa Phat Group, the largest steel manufacturer in Vietnam, has decided to suspend two blast furnaces at Hoa Phat Dung Quat and Hoa Phat Hai Duong from this November, respectively. Besides, another blast furnace at Hoa Phat Dung Quat was also expected to be shut down in early December.
Hoa Phat Group owns a total of seven blast furnaces, with a combined annual production capacity of 5.7 million tons. The shutdown of the five blast furnaces will slash production by up to 700%, approximately 4 million tons.
Source:Yieh
