In Q3, the total sales volume of steel products reached 2.5 million tons, a slight 4% decrease compared to Q2 but still a 21% increase year-over-year. Among these, high-quality construction steel and steel coils accounted for over 1 million tons, marking a 17% decline from the previous quarter due to the construction off-season and adverse weather conditions.
Mr. Đinh Quang Hiếu, Head of Sales at Hòa Phát Hưng Yên Steel Company, explained, “The drop in Q3 sales is primarily attributed to the construction off-season, with the Lunar July falling within this period. Continuous rain, storms, and flooding have also impacted construction project timelines.”
Conversely, hot-rolled coil (HRC) steel continued its impressive growth, reaching 1.2 million tons in Q3—an 8% increase from Q2 and a significant 71% surge year-over-year. In September 2025 alone, HRC production hit 477,000 tons, an 11% rise from August. Downstream products like galvanized steel sheets and steel pipes also saw positive results, with volumes reaching 120,000 tons and 225,000 tons, respectively, slightly up from the previous quarter.
For the first nine months of 2025, Hòa Phát produced 7.9 million tons of crude steel, a 23% increase year-over-year. Total consumption reached 7.4 million tons, up 22% compared to the same period in 2024.
High-quality construction steel and steel products totaled 3.5 million tons, a 6% increase year-over-year. Hòa Phát maintained its leading position in Vietnam’s construction steel market with a 37% market share.
Notably, HRC products recorded a remarkable 51% growth, reaching 3.43 million tons, accounting for over 56% of Vietnam’s HRC production and consumption, according to the Vietnam Steel Association’s September 2025 report.
Steel pipe consumption reached 627,000 tons, up 25%; prestressed and wire rod steel hit 116,000 tons, also up 25%, with exports making up 42%. Galvanized steel sheets recorded 320,000 tons, a slight 7% decrease year-over-year.
Accelerating Production with Dung Quất 2
From the start of Q2 to September 2025, Hòa Phát commissioned Blast Furnaces No. 1 and No. 2 at the Hòa Phát Dung Quất 2 Steel Complex. The complex’s output is expected to grow significantly, particularly for HRC products.
Hòa Phát is focusing on developing high-quality steel products for industries such as mechanical engineering, automotive, shipbuilding, oil and gas, and energy. The group is also implementing a project for a rail and structural steel plant in Dung Quất, with the first products expected in 2027, serving major domestic railway projects and exports.
As Southeast Asia’s largest steel producer and among the world’s top 30 steel companies, Hòa Phát’s production capacity will reach 16 million tons annually by 2026, including 9 million tons of HRC and high-quality steel, fully meeting domestic and international market demands.
– 11:32 09/10/2025
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