Steel maker Hoa Phat Group announced that its subsidiary Hoa Phat Dung Quat Steel Joint Stock Company has signed a contract to export the first batch of 35,000 tonnes of hot-rolled coil (HRC) steel to Italy.

The first order of the year to Europe opens up a large consumption market for the Hoa Phat Group's products.

According to Tran Ngoc An, deputy head of the company’s sales department, the shipment is expected to be delivered between February 15 and 20.

Hoa Phat’s HRC is produced on a modern European rolling casting line, meeting strict world standards such as American Society for Testing and Materials (ASTM), is an international standards organisation that develops and publishes voluntary consensus technical standards for a wide range of materials, products, systems, and services as well as Japanese Industrial Standards (JIS). The products are used as raw materials for the production of steel pipes, roofing sheets and other special items such as container shells.

Last year, the Hoa Phat Dung Quat Steel Joint Stock Company supplied 2.6 million tonnes of HRC steel to the market, of which the export volume accounts for less than 30,000 tonnes.

Many foreign customers want to order HRC products. However, the Hoa Phat Group has not been able to meet all the market's needs. This is also the motivation for the group to promote the implementation of the Hoa Phat Dung Quat 2 Steel Integrated Complex project, focusing on producing hot-rolled coil with a capacity of 5.6 million tonnes a year.

Hoa Phat's annual steel production capacity reaches about 14 million tonnes, including 8.6 million tonnes of HRC when the complex becomes operational. — VNS