Vietnam’s Hoa Phat Group production exceeds 2 million t in
Nov 11, 2019
Hoa Phat Group (HPG) raised its steel output in January-October 2019. The manufacturer will try to keep increasing its output in coming months as the local demand recovers. Besides, the company aims to boost export.
Vietnam’s HPG increased its construction steel output by 12.5% to 2.18 million t year-on-year in January-October 2019. “HPG’s steel sales still maintained a growth rate despite slow construction due to bad weather, prolonged rains and storms in the previous months,” the company stated in its report. In the southern region the producer managed to sell 328,100 t (up 91% y-o-y) while in the north HPG’s sales increased by 50% to 329,800 t.
In addition, since HPG has launched its own production of steel billet, it also managed to supply over 60,000 t of the semis to other steel mills besides using it as feedstock.The producer kept boosting sales to overseas markets, having sold 205,800 t of construction steel, up 10% y-o-y.The company is optimistic about further production results, planning to reach
around 4 million t by end‑2019 and early 2020, according to HPG’s press release.
