Posted on 07 Dec 2021
Vietnam's leading steelmaker, Hoa Phat Group, says its cumulative hot rolled coil production since the line was commissioned in May 2020 reached 3 million tonnes on 2 December, Kallanish notes.
The equipment was provided by Italian technology supplier Danieli. Hoa Phat expects to add another 5.6m t/year of HRC capacity from 2022 with the development of its Dung Quat 2 complex.
In the past 11 months, Hoa Phat exported 914,000 tonnes of construction steel, up by 90% on-year. In November only, construction steel exports reached over 100,000t, an increase of 2.3 times compared with the same period of 2020. Hoa Phat looks to hit 1 million tonnes of construction steel exports in 2021, double on-year.
Hoa Phat has already begun to pre-sell its orders for 2022, and has received more than 300,000t of steel orders from buyers in Japan, Singapore, Hong Kong and Canada.
Hoa Phat’s strong performance has also helped to boost Vietnam's steel exports. Vietnam Steel Association data shows that steel exports rose by nearly 129.8% in the first 11 months of this year to $10.8 billion, making them the fastest growing product exported by Vietnam in the period.
Source:Kallanish
