Hoa Phat’s HRC sales reach record high hinh anh 1

Hot rolled coil (HRC) steel production at Hoa Phat Dung Quat Iron and Steel Integrated Complex. (Photo courtesy of the firm)

Hanoi (VNA) - The Hoa Phat Group supplied the market with 296,000 tonnes of hot rolled coil (HRC) steel. This is the highest sale level since it started supplying HRC to the market in November 2020.

The HRC sales volume increased 24 percent compared to February 2022 and posted a 25 percent year-on-year increase. Tran Ngoc An, Deputy Sales Department of the Hoa Phat Dung Quat Steel Joint Stock Company, said that the sales volume hit a record mainly thanks to high domestic demand. The Government and localities' push to disburse public investment capital also stimulated fields that use HRC as raw materials for production such as processing factory structures, manufacturing steel pipes, galvanized steel sheets and other mechanical products.

On the other hand, due to high shipping costs and the impact of the Russia-Ukraine conflict, the supply of HRC imported from Russia and India to Vietnam faced many difficulties. The Hoa Phat Group increased HRC production to supply the domestic market, contributing to reducing dependence on HRC’s imports.

In the first quarter of 2022, the group supplied 763,000 tonnes of HRC to domestic and foreign markets, up 15 percent over the same period in 2021.

The Hoa Phat Dung Quat Iron and Steel Integrated Complex has an output of 5.6 million tonnes a year, including 2.6 million tonnes of steel billet, and 3 million tonnes of HRC. With the advantage of a deep-sea port, the group easily supplies products to domestic and foreign markets at competitive prices./.