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Vietnam's Hoa Phat Group becomes 15th largest steel company in world

13 Oct 2021 16:14 reported by Hazel Chen

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According to a report by British financial analysis company Refinitiv Eikon, Vietnam’s Hoa Phat Group ranked 15th among the top 30 steel companies in the world, with a market value of US$11 billion.

It was understood that Hoa Phat Group is the largest steel producer in Southeast Asia, with an annual crude steel production capacity of 8 million tons.

In the first nine months of this year, the company's total crude steel output increased significantly by 50% year on year to 6.1 million tons. The sales of steel also increased by 43% year on year to 6.3 million tons, of which construction steel accounted for 2.8 million tons, up by 12% year on year.

During the period, the output of hot-rolled coil totaled nearly 2 million tons, and steel plate output increased by 2.6 times year on year to 273,000 tons.

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