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Currently, Hoa Phat owns 7 blast furnaces for steelmaking, including 4 furnaces in Dung Quat and 3 furnaces in Hai Duong. With a crude steel production capacity of 8.5 million tons per year, Hoa Phat is currently the leading steel production enterprise in Vietnam.According to information from Hoa Phat Group (HPG), in the fourth quarter of 2023, the group recorded consolidated revenue of VND 34,925 billion, an increase of 33% over the same period. Profit after tax recorded 2,969 billion VND, up 48% over the previous quarter and up 249% over the same period.Specifically, Hoa Phat supplied more than 2.1 million tons of crude steel to the market in the fourth quarter, an increase of 30% compared to the previous quarter. The consumption of construction steel products alone during this period reached 1.2 million tons and HRC reached 813,000 tons.Currently, the optimism of the steel market in the fourth quarter of 2023 has been reflected in Hoa Phat's inventory structure, where the proportion of finished products in inventory decreased to the lowest level since the second quarter of 2022. With consumption output gradually improving, both the value and proportion of raw materials in inventory have increased compared to previous quarters. However, this business said that raw material turnover has not returned to the level of around 3 months like in 2021 but continues to tighten at 2 months (62 days).Hoa Phat's leadership said that although the total steel consumption in 2023 is lower than the previous year, in terms of trend, the group's steel business picture has gradually brightened as output tends to grow over the past year, reaching its best level in the fourth quarter of 2023, recorded in both domestic and export markets. For the construction steel market, according to Hoa Phat, optimistic signals come from policies to remove difficulties and promote public investment, especially in the field of transport infrastructure. Regarding export markets, this business has continued to diversify its consumer markets by expanding to 39 countries and territories worldwide. Export output will continue to increase in 2024.Previously, in October 2023, Hoa Phat stopped operating a blast furnace at Hai Duong Iron and Steel Complex for maintenance and preparation for new production batches in 2024. Recently, Hoa Phat said that since all blast furnaces at all complexes in Dung Quat and Hai Duong have been re-operated, the raw materials needed to prepare for production have therefore also increased accordingly. Currently, Hoa Phat Hai Duong Iron and Steel Complex has 3 furnaces with a total capacity of 2.5 million tons and 4 furnaces at Hoa Phat Dung Quat with a capacity of 5.6 million tons per year.

In the past 2023, Vietnam's HRC export volume recorded exceeding 3.4 million tons, marking a 2.6-fold increase compared to 2022. In December alone, the HRC export volume reached 229 thousand tons, experiencing a 34% decrease compared to November but a significant 19% increase compared to the same period in 2022.Overview of Vietnam's HRC export situation in 2023While domestic steel consumption is perceived as sluggish due to low demand and the domestic real estate sector still showing few signs of recovery, the export volume is considered a rare bright spot in the overall challenging landscape of the steel industry in 2023. Specifically, the sales of HRC in 2023 reached 6.8 million tons, a 10% increase compared to 2022, constituting nearly 26% of the overall steel consumption structure in 2023.Prominent in this field is the HRC export sector, significantly contributing to the overall achievements of the industry. With a figure of 3.4 million tons, the HRC export segment not only accounted for over 50% of the total sales volume but also recorded an impressive 2.6-fold increase compared to the same period in 2022. This is not only a positive sign of the competitiveness of the steel export industry but also reflects innovation and creativity in business strategies, enabling the Vietnamese steel industry to rise above challenging circumstances.The Vietnam’s HRC export volumes by month in 2022 and 2023Formosa Ha Tinh and Hoa Phat continue to maintain their leading and second positions in the production and export of HRC (hot-rolled coil). Formosa's HRC export volume in 2023 reached 2.2 million tons, surging by 46% compared to the export volume in 2022. Additionally, HRC was the only product that recorded positive sales growth for Hoa Phat, with a total volume of 2.8 million tons, a slight 6% increase compared to 2022, including an HRC export volume of 1.15 million tons.Among steel products, hot-rolled coil stands out as the product with the most robust growth. Some experts believe that the hot-rolled coil (HRC) market will recover more quickly due to ongoing strong consumption, especially in the mechanical and processing industries. Compared to construction steel, hot-rolled coil (HRC) not only offers more attractive pricing but also reflects a significant price disparity due to the construction industry's ongoing difficulties and substantial impact from the real estate market, while the mechanical and manufacturing sectors show better signs of recovery.India and Italy are the two main HRC import markets for VietnamBased on customs data, Italy and India emerge as the two largest HRC import markets for Vietnam in 2023. Italy, in particular, imported 1.1 million tons of HRC steel from Vietnam in the past year and in December alone, it continued to lead the HRC import market with a volume of 80,470 tons. Alongside Italy, India became the second-largest importer of HRC for Vietnam, with a total HRC import volume of 694,000 tons in 2023.Although India has been evaluated as a potential steel import market and consistently maintained its position as Vietnam's largest HRC importer in previous months, its import volume significantly decreased in December, plummeting over 85% compared to the previous month, reaching 20 thousand tons. Sources indicate that the primary reason for this decline is the anticipated reduction in India's domestic demand for hot-rolled coil steel, mainly attributed to the upcoming general elections causing disruptions in pricing. Currently, the country's mills are seeking solutions to address excess production by increasing exports to the European market.Top 10 countries with the largest imports of Vietnam's HRC in 2023Malaysia and Indonesia consistently stand out as two countries with stable HRC import volumes from Vietnam, regularly appearing in the top 5 largest HRC importers each month. In 2023, the HRC import volumes for Malaysia and Indonesia reached 464,874 tons and 394,786 tons, respectively. Additionally, in the top 10 HRC importers list, Mexico is the sole representative from the Americas with an import volume of 157,322 tons, while other predominantly European countries include Spain, Portugal, and Belgium.Predictions for the future of Vietnam's HRC export market in 2024The predominance of countries in the European region on the list of HRC importers for Vietnam in 2023 somewhat reflects the competitiveness and quality of Vietnamese steel products in the strategic expansion of export markets and shaping Vietnam's international steel industry position. However, the rankings on this list are expected to undergo significant changes in 2024, particularly among European countries.According to the customs statistics of the EU, as of January 5th, approximately 1.18 million tons of imported HRC are awaiting customs clearance in the EU for the first quarter of 2024, while the permitted quota is 923,594 tons. Within this quantity, the majority consists of shipments from Vietnam, Japan and several other countries. Under the EU's protective measures, any steel products imported beyond the quota will incur tariffs of up to 25%, unintentionally posing a new challenge for the export dynamics of Vietnamese HRC in 2024. Therefore, domestic HRC manufacturers will need to promptly adjust and implement new strategies to maintain their export market share and explore new consumer markets.MRS Steel regularly updates comprehensive information on HRC export volume and the list of importing countries in 2023 based on the latest customs data. If you have further inquiries about specific figures or weekly steel price lists directly from the factories, please contact us via WhatsApp at +84 76 911 2358 or email vanloc@mrssteel.com.vn for the fastest response possible.

In the past November, the production of hot-rolled coil steel reached 555,162 tons, experiencing a slight decrease of 5% compared to October but witnessing a significant increase of 30% compared to the same period in 2022. Additionally, Vietnam's HRC export volume amounted to 350,875 tons, showing a slight uptick of nearly 2% compared to October, yet experiencing a remarkable twofold surge compared to November 2022.Overview of Vietnam's HRC export situation in the 11 months of 2023In general, during the first 11 months of 2023, the production of hot-rolled coil steel reached 6 million tons, showing a 6% increase compared to the same period in 2022. The nationwide HRC sales volume for the same period reached 6.2 million tons, marking a 7% growth compared to the first 11 months of 2022. However, the notable highlight lies in the HRC export sector, with a volume reaching 3.2 million tons, tripling the figure from the same period last year.Formosa Ha Tinh and Hoa Phat continue to be the leading entities in the national HRC sector, with export volumes reaching 2,118,675 tons and 1,045,000 tons, respectively, during the 11 months of 2023. In general, the combined export volume of these two companies accounts for over 95% of the total HRC export volume this year. Specifically, Hoa Phat's HRC sales in November reached nearly 270,000 tons, with the export-oriented HRC reaching 118,922 tons.Statistic of Vietnam’s HRC export volumes from January to November in 2023Overall, there are signs of growth in HRC sales in the last months of the year, especially with the export-oriented HRC playing a crucial role in this increase, given the significant reduction in raw material prices and the gradual capacity increase in factories. Most experts believe that the steel industry has overcome its most challenging period, and signs of recovery are gradually emerging. The real estate market in China is stabilizing and becoming a bright spot for steel consumption in the construction sector.India and Italy are the two main import markets for Vietnam's HRCCustoms data also indicates that Italy and India are the two largest import markets for Vietnam's HRC in 2023. Italy, in particular, imported over 1 million tons of HRC from Vietnam in the first 11 months of 2023, making it the largest HRC importing country, capturing nearly a third of the export market share. Besides Italy, India became the second-largest importer of Vietnam's HRC, with a total imported volume of 674,472 tons during the 11 months.India has been evaluated as a potential steel import market recently. Specifically, from September onwards, India has consistently surpassed Italy in leading the import volume of Vietnam's HRC. In November alone, India imported 140,633 tons, while Italy imported just over 79,000 tons. The World Steel Association (WSA) predicts that in 2024, steel demand in the EU and India is expected to recover by 5.6% and 7.5%, respectively, which is seen as positive for Vietnam's steel export, especially for HRC.Top largest countries have Vietnam’s HRC importing volumes in 11 months of 2023Furthermore, the list of over 40 countries importing HRC includes two Southeast Asian countries, Malaysia and Indonesia, ranking third and fourth in import volume, with 436 thousand tons and 361 thousand tons, respectively, in the first 11 months of 2023. It's noteworthy that among the top 10 countries with the highest import volumes of Vietnam's HRC, only two are from Southeast Asia, compared to previous years when Vietnam's steel sources were mostly consumed in this region.The emergence of potential new import markets such as India, Mexico, or Spain somewhat reflects the strong determination of the Vietnamese steel industry to expand its scale to new major markets, especially under the impetus of bilateral trade agreements. The attractive prices offered by Vietnamese HRC manufacturers, along with the benefits of reduced export taxes from agreements such as EVFTA or CPTPP, have created significant opportunities for businesses in Europe and the Americas to increase imports of Vietnamese steel products.The entire information in the article is updated and based on the latest customs data. If you need more detailed information about the weekly steel price list directly from the factories, please contact us via WhatsApp: +84 76 911 2358 or email vanloc@mrssteel.com.vn for the quickest response.

In November 2023, both production and consumption in Vietnam's steel industry experienced growth. Specifically, nationwide steel sales reached over 2.5 million tons, marking a 30% increase compared to the same period last year and reaching the highest level since the beginning of the year. Meanwhile, finished steel production reached 2.4 million tons, reflecting a 34.4% increase compared to the same period.The Vietnam Steel Association (VSA) reported an improvement in the consumption of finished steel in the domestic market in November compared to the previous month and the same period last year for most steel manufacturing and trading enterprises. In particular, sales of various steel types reached over 2.5 million tons, up 13% from the previous month and 30% compared to the same period in 2022. The growth in steel consumption has been consistent over several months, signaling a recovery for the steel industry. Meanwhile, the production of finished steel during this period amounted to 2.4 million tons, up 3% from October and 34.4% compared to the same period last year.In the first 11 months of the year, the steel industry produced 25 million tons of finished steel, down by 7.8% compared to the same period last year. Steel consumption reached 23.7 million tons, declining by 5.6% compared to the sales volume in the first 11 months of 2022. Specifically, steel exports during this period amounted to 7.4 million tons, marking a 29% increase compared to the same period.Hoa Phat, a leading enterprise in the steel industry, observed its highest sales volume since the beginning of the year. Specifically, sales of construction steel, hot-rolled coil (HRC) and steel billets reached 709,000 tons, marking a 12% increase from October. Notably, sales of high-quality construction steel by Hoa Phat during this period reached 410,000 tons, indicating a 21% surge compared to the same period last year.The company's representative stated that the domestic steel industry is on the rise due to the beginning of the construction season and is partly driven by policies encouraging the disbursement of public investment capital. According to the assessment by VSA, the sales volume of construction steel has increased, partly due to infrastructure projects such as the North-South expressway and the ongoing development of new airports, which have accelerated progress alongside several other projects.The steel industry has experienced significant price fluctuations in recent months, with steel companies continuously adjusting prices upward from November onwards. According to VSA, the consistent price hikes in steel are primarily due to the rising costs of raw materials used in steel production such as coal, iron ore, scrap steel and hot-rolled coils, showing no signs of slowing down.The selling prices of finished steel have been increasing at a slower pace compared to the rising costs of raw materials. This is one of the difficulties that the steel industry is facing.In the upcoming period, the price of this commodity is forecast to continue rising due to a narrow supply of iron ore, while construction demand is expected to increase. This will be an opportunity for the steel industry and steel stocks in 2024.

Hot-rolled coil is known as an input material for the production of pipe steel, galvanized sheet, section steel,... but not all enterprises can produce this type of steel. Join MRS Steel to learn more about hot-rolled steel coil factories in Vietnam.Formosa Ha Tinh (FHS) - A pioneer in producing hot rolled steel coils in VietnamAs the enterprise with the highest FDI capital in Vietnam, Formosa Ha Tinh (FHS) is a pioneer in the production of hot-rolled coil in the Vietnamese market. On December 25, 2015, a hot-rolled coil product was launched, the first product produced in Vietnam. The introduction of hot-rolled coil is not only meaningful to Formosa Ha Tinh, but it also marks a strong transformation of Vietnam's steel industry.Formosa Ha Tinh is the most modern steel factory in Southeast Asia, with an output of 4 million tons of hot-rolled coil per year. Each hot-rolled coil produced goes through the stages of heating, roughing, finishing, and winding. Currently, Formosa is still the largest hot-rolled coil producer in Vietnam. With a wide range of products meeting international standards, Formosa Ha Tinh's hot-rolled coil not only meets domestic demand but also exports to other markets. Currently, Formosa Ha Tinh's products are present in advanced countries such as Italy, the USA, Spain, Mexico,... Formosa Ha Tinh uses the latest equipment and production techniques and, at the same time, adopts automated production equipment and computer-managed techniques to improve productivity and product quality.Hoa Phat - The leading bird in Vietnam's steel industryAlong with Formosa Ha Tinh, Hoa Phat is one of two enterprises that can produce hot-rolled coil in Vietnam. Hoa Phat Dung Quoc Steel launched the first batch of hot-rolled coil on May 2, 2020. This is an important milestone, making Hoa Phat the first Vietnamese enterprise to produce hot-rolled coil and affirming its position as the number one steel producer in Southeast Asia.Hoa Phat's hot-rolled coil production output is increasing with stable quality in SS400 steel grades according to JIS G3101-2017 (Japan) and SAE J403-14 (USA) standards. Hoa Phat Group provides 12 different grades of hot-rolled coil, meeting the diverse needs of the market. Besides meeting domestic partners and customers, Hoa Phat's hot-rolled coil has been exported to markets such as the US, Mexico, the EU, Malaysia,...Hot-rolled coil is also the most important highlight of Hoa Phat Dung Quoc, with a capacity of about 3 million tons per year. In 2022, Hoa Phat will conduct the Hoa Phat Dung Quoc 2 Project with a capacity of 5.6 million tons per year. It is expected that after completion in 2025, Hoa Phat's total hot-rolled coil capacity will reach 8.6 million tons per year. With this output, it is partly self-sufficient in domestic steel supplies.In order to increase output, improve quality, and expand the hot-rolled coil product range, Hoa Phat has upgraded and optimized the production line. Currently, Hoa Phat's hot-rolled coil is produced at the modern continuous rolling mill of Danieli Group Europe, and the products all meet many strict standards such as ASTM, JIS, MS, SAE, BS, EN,...After upgrading to steel grades SPHC, SPHD, SPHT1, and BJPC equivalent to SAE 1006, Hoa Phat can produce and roll to a minimum thickness of 1.20mm. Grade SPHT3, the BJPS equivalent to SS400, achieves the minimum thickness of 2.00mm. Marks S235JR and S275JR, when tested, met the standards of mechanical properties and improved product quality. The grade SPA-H used to make the container has good quality and stable production.In the above article, MRS Steel has given you basic information about two large hot-rolled coil manufacturers in Vietnam, Formosa Ha Tinh and Hoa Phat Dung Quoc. If you want to buy hot-rolled coil from these 2 factories, please contact us via WhatsApp (+84) 76 911 2358.