Vietnam-based Hoa Phat Group supplied more than 2.77mn mt of high-quality construction steel in 2019, up by 16.8pc from a year prior. The company exported 265,000mt to major buyers in Australia, Cambodia, Japan, Malaysia, China’s Taiwan, the Republic of Korea and the US.
In December, sales of construction steel reached 285,000mt, up 33.7pc from the same month in 2018. Steel sales in the southern region were estimated at 70,000mt, up 3 times from December of 2018. In November, the steel sales volume were at a record high at 80,000mt.
The demand from southern region was the highest consuming around 500,000mt of steel in 2019, doubled from the prior year.
The company will increase its output of construction steel to 4mn mtpa out of which half is being produced in Hai Duong, Hung Yen and the rest in Dung Quat in the coming months. Out of the total targeted production, around 1mn mt of construction steel is planned to be manufactured in the south region.
The company has ramped up operations at its No 2 steel rolling mill with a capacity of 1.2mn mt, belonging to phase 1 of Hoa Phat Dung Quat Iron and Steel Complex. Also, the construction of Hoa Phat Dung Quat port which can handle 200,000 DWT ships will help facilitate the company’s import and export activities.