In early February 2022, Hoa Phat Dung Quat Steel Joint Stock Company signed a contract to export the first batch of hot rolled coil (HRC) to Italy with a volume of 35,000 tons. The first order of the year to Europe opens up a large consumption market for Hoa Phat Group’s products.

According to Mr. Tran Ngoc An – the company’s Deputy Sales Department, the shipment with steel grade SAE 1006 and manufactured according to SAE J403:2014 standard is expected to be delivered from February 15-20, 2022.

Hoa Phat’s hot-rolled coil is produced on a modern European continuous-rolling casting line, meeting strict world standards such as ASTM, JIS, GB/T. The products are used as raw materials for the production of steel pipes, roofing sheets and other special products such as container shells etc.

With HRC products, Hoa Phat Group has given priority to the domestic market, as Vietnam still lacks millions of tons per year. In 2021, Hoa Phat Dung Quat Steel Joint Stock Company supplied to the market 2.6 million tons of HRC steel, of which the export volume accounts for less than 30,000 tons. The export promotion has helped Hoa Phat Group diversify its consumption markets while the domestic market was affected by the COVID-19 pandemic. At the same time, it contributes to foreign currency collection and Vietnam’s trade balance.

Many foreign customers want to order HRC product. However, Hoa Phat Group has not been able to meet all the market’s needs. This is also the motivation for the group to promote the implementation of the Hoa Phat Dung Quat 2 Steel Integrated Complex project, focusing on producing hot rolled coil with a capacity of 5.6 million tons a year. Hoa Phat’s annual steel production capacity will reach about 14 million tons, including 8.6 million tons of HRC when the complex come into operational.

Source:HPG News