Vietnam's Hoa Phat plans to raise HRC shipments to oversupplied Asia

Vietnam's Hoa Phat Group is planning to increase its hot-rolled coil shipments to an already over-supplied Asian market, with its new hot-strip mill producing its first coil in the last two weeks.

"HRC production started in the second half of April and the company is working to stabilize the quality of its supply," a source close to the company told Fastmarkets.
The mill is said to have offered small trial shipments to the spot market, but this could not be confirmed at the time of writing.
"The current supply is being consumed internally for now," the source said, referring to the group’s subsidiary, Hoa Phat Steel Pipe.
Offers for higher-grade coil have not been issued yet.
"Re-rolling-grade materials such as SAE1006 coil may only be offered later this year," a source at a Vietnamese re-roller said.

Hoa Phat is Vietnam's second-largest steelmaker, behind...

Published

Paul Lim

May 06, 2020

05:18 GMT

Singapore