Hoa Phat Hai Duong factory restarts a blast furnace

Hoa Phat Group has increased its annual rebar production capacity by 700,000 tons. This was a sign that the construction steel market was recovering.

While Hoa Phat suspended the operations of three blast furnaces in November and December last year, these blast furnaces were not completely shut down and were kept at a suitable temperature for a short-term restart.

At the end of 2022, Hoa Phat's steelmaking sales amounted to 7.2 million tons, down 7% from 2021. However, the company's construction steel production rose 10% to 4.2 million tons.