In the first 8 months of the year, Hoa Phat’s steel sale reached 3.2 million tonnes including 2.1 million tonnes of finished steel and 1.1 millions of steel billet. Finished steel output was increased by 20 per cent over the same period last year. The output in the southern region exceeded 500,000 tonnes for the first time in the 8 month period and doubled over the corresponding period last year. The impressive consumption helped Hoa Phat steel increasing its market share to 32 per cent by the end of August 2020.
Looking back on history, in 2017, one year after the group completed Phase 3 of Hoa Phat Hai Duong Steel integrated Complex, Hoa Phat steel's market share was increased to 22.2 per cent. This is the first time that Hoa Phat has surpassed VnSteel (Vietnam Steel Corporation), affirming its leading position in the steel industry.
With the increasingly stable product volume of Hoa Phat Dung Quat Steel integrated Complex (in central Quang Ngai Province), Hoa Phat’s construction steel has shown a breakthrough in growth since 2018. In the period of 2010-2017, the market share was increased by 10 per cent after 7 years. However, Hoa Phat’s steel took less than 3 years to occupy 10 per cent of the market share from 22 per cent to 32 per cent thank to the establishment of Hoa Phat Dung Quat Steel integrated Complex.
Source: Hoa Phat website
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