Vietnam: Hoa Phat Eyes 500,000 MT HRC Output in CY'20

Vietnam's leading steel producer Hoa Phat Group plans to produce 800,000 MT billets and 500,000 MT HRC this year and expects HRC products to be supplied to the market by Sep'20.

Chairman of Hoa Phat said, "Before 2025, Vietnam will still have to import more HRC because the production capacity of Hoa Phat and Formosa is not enough."

Also, the company plans to produce 3.6 MnT construction steel in CY'20, the company Chairman said in a meeting.

According to HRC manufacturers, the HRC production line is compared to 10 times harder than construction steel production technology. Therefore, the aforementioned HRC production plan depends on many factors.

Hoa Phat has submitted a profit plan of about VND 9,000-10,000 billion this year.