A blast furnace fire was reported at Vietnam's major steelmaker Hoa Phat Group in early May. Although authorities previously claimed that operations could be resumed in just one to two weeks, local industry insiders revealed that the actual extent of the damage was far more serious than expected, and the resumption of work could be extended to half a year. Some domestic and foreign sales orders have already seen delivery delays. 

It was understood that the blast furnace located in Dung Quat was suspected of leaking liquid during smelting operations, causing an industrial safety accident. Although Hoa Phat said the fire had been extinguished quickly and did not officially state the progress of the restoration, local steel mills and traders in Vietnam pointed out that the company had recently placed urgent orders to purchase Indonesian slabs, indicating that the production line had been severely damaged. 

As Hoa Phat has not disclosed the specific damage and repair progress so far, there has been a lot of speculation in the industry, and some purchases have also shifted to Ha Tinh Steel and imported sources to reduce risks.