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Home Steel News Hoa Phat Group's domestic construction steel market share remains at 38% in Q3
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Hoa Phat Group's domestic construction steel market share remains at 38% in Q3

17 Oct 2024 13:31 reported by Iona Chen

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Vietnam's Hoa Phat Group produced 1.1 million tons of construction steel in the third quarter, a decrease of 14% from 1.27 million tons in the previous quarter. However, Hoa Phat still maintained a domestic construction steel market share of 38%, with the production of hot-rolled flat products remaining month-on-month steady at around 738,000 tons.

Hoa Phat explained that the Vietnamese steel market faced weak domestic demand, which caused both prices and overall production to decline in the third quarter.

Market participants remained optimistic about Hoa Phat's active promotion of the Dung Quat 2 project and its preparations for future capacity expansion.

The company's competitive advantage in the steel market is expected to increase.

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