Compared to February 2024, sales production of hot-rolled coils (HRC), construction steel, high-quality steel, and steel billets saw a 34% surge, reaching 693,000 tons. Particularly, the quantity of construction steel and high-quality steel supplied to both domestic and international markets witnessed an 80% increase compared to February.
While there was a slight decrease in hot-rolled coil production to 263,000 tons in March, other steel products including steel pipes and galvanized steel sheets recorded figures equivalent to February 2024, surpassing 42,000 tons and 32,000 tons respectively.
In the first quarter of 2024, Hoa Phat's crude steel production surged by 70% compared to the same period last year, reaching 2.1 million tons. Sales of construction steel, steel billets, and hot-rolled coils also saw a 34% increase, totaling 1.85 million tons. During the first quarter, production of construction steel and high-quality steel increased by 10%, reaching 956,000 tons, while the quantity of hot-rolled coils surged by 67% compared to the same period last year, reaching 805,000 tons.
With a current crude steel capacity of 8.5 million tons per year, Hoa Phat is the largest in Southeast Asia. Additionally, the group is accelerating the progress of the Hoa Phat Dung Quat 2 Iron and Steel Production Complex project, which will have the capacity to produce 5.6 million tons of high-quality hot-rolled coils annually. Upon completion, Hoa Phat's steel production capacity will reach 14.6 million tons per year, with hot-rolled coil production reaching 8.6 million tons per year.
As of March 2024, the Dung Quat 2 project has completed over 50% of all major items. Hoa Phat is intensively collaborating with hundreds of local and foreign contractors and partners to complete the project by the end of 2024. The first phase of the project is scheduled to be operational in the first quarter of 2025.
Comments
No comment yet.