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 296,000tonnes of hot rolled coil (HRC) steel. This is the highest sale level since itstarted supplying HRC to the market in November 2020.
The HRC sales volume increased 24 percent compared to February 2022 and posteda 25 percent year-on-year increase. Tran Ngoc An, Deputy Sales Department ofthe Hoa Phat Dung Quat Steel Joint Stock Company, said that the sales volumehit a record mainly thanks to high domestic demand. The Government andlocalities' push to disburse public investment capital also stimulated fieldsthat use HRC as raw materials for production such as processing factory structures,manufacturing steel pipes, galvanized steel sheets and other mechanicalproducts.
On the other hand, due to high shipping costs and the impact of theRussia-Ukraine conflict, the supply of HRC imported from Russia and India to Vietnamfaced many difficulties. The Hoa Phat Group increased HRC production to supplythe domestic market, contributing to reducing dependence on HRC’s imports.
In the first quarter of 2022, the group supplied 763,000 tonnes of HRC todomestic 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 5.6million tonnes a year, including 2.6 million tonnes of steel billet, and 3million tonnes of HRC. With the advantage of a deep-sea port, the group easilysupplies products to domestic and foreign markets at competitive prices./.
The HRC sales volume increased 24 percent compared to February 2022 and posteda 25 percent year-on-year increase. Tran Ngoc An, Deputy Sales Department ofthe Hoa Phat Dung Quat Steel Joint Stock Company, said that the sales volumehit a record mainly thanks to high domestic demand. The Government andlocalities' push to disburse public investment capital also stimulated fieldsthat use HRC as raw materials for production such as processing factory structures,manufacturing steel pipes, galvanized steel sheets and other mechanicalproducts.
On the other hand, due to high shipping costs and the impact of theRussia-Ukraine conflict, the supply of HRC imported from Russia and India to Vietnamfaced many difficulties. The Hoa Phat Group increased HRC production to supplythe domestic market, contributing to reducing dependence on HRC’s imports.
In the first quarter of 2022, the group supplied 763,000 tonnes of HRC todomestic 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 5.6million tonnes a year, including 2.6 million tonnes of steel billet, and 3million tonnes of HRC. With the advantage of a deep-sea port, the group easilysupplies products to domestic and foreign markets at competitive prices./.
VNA
