Vietnamese steelmaker Hoa Phat Group announced production and sales results for the third quarter and first nine months of this year.
The company produced 2.8 million tons of crude steel in the third quarter, up 35 percent year-on-year, and steel sales increased 21 percent year-on-year to reach 2.5 million tons. During the reporting period, the company sold more than one million tons of construction steel and high-quality wire rod, and sales of rolled products amounted to 1.2 million tons.
During the nine months of this year, the company produced 7.9 million tons of raw steel, which is 23 percent more than last year, and the volume of steel sales increased by 22 percent year on year and reached 7.4 million tons. Specifically, the company's rolled steel sales totaled 3.43 million tons, up 51 percent, and sales of construction steel and high-quality wire rod totaled 3.5 million tons, up 6 percent year-on-year. During this period, sales of galvanized steel and pipes in Hoa Phat amounted to 320,000 tons and 627,000 tons, respectively.
From early June to September, blast furnaces No. 1 and No. 2 were put into operation at the Hoa Phat Dung Quat 2 integrated metallurgical complex, marking the completion of the project. Therefore, the production volume of the entire Hoa Phat Dung Quat complex is expected to increase rapidly in the near future. From 2026, Hoa Phat's annual steel production capacity will reach 16 million tons, which will help meet demand in both domestic and international markets.
