Hot rolled coil (HRC) steel production at Hòa Phát Dung Quất Iron and Steel Integrated Complex. — Photo courtesy of the firm

HÀ NỘI — Hòa Phát Group supplied the market with 296,000 tonnes of hot rolled coil (HRC) steel. This is the highest sale level since it started supplying HRC to the market in November 2020.

The HRC sales volume increased 24 per cent compared to February 2022 and posted a 25 per cent year-on-year increase. Trần Ngọc Ân, Deputy Sales Department of Hòa Phát Dung Quất Steel Joint Stock Company, said that the sales volume hit a record mainly thanks to high domestic demand. The Government and localities' push to disburse public investment capital also stimulated fields that use HRC as raw materials for production such as processing factory structures, manufacturing steel pipes, galvanized steel sheets and other mechanical products.

On the other hand, due to high shipping costs and the impact of the Russia-Ukraine conflict, the supply of HRC imported from Russia and India to Việt Nam faced many difficulties. Hòa Phát Group increased HRC production to supply the domestic market, contributing to reducing dependence on HRC’s imports.

In the first quarter of 2022, the group supplied 763,000 tonnes of HRC to domestic and foreign markets, up 15 per cent over the same period in 2021.

The Hòa Phát Dung Quất Iron and Steel Integrated Complex has an output of 5.6 million tonnes a year, including 2.6 million tonnes of steel billet, and 3 million tonnes of HRC. With the advantage of a deep-sea port, the group easily supplies products to domestic and foreign markets at competitive prices. — VNS