Hòa Phát Dung Quất’s first blast furnace is back in operation, bringing the total number of blast furnaces at the complex to five, four of which are part of the Dung Quất 1 project. Each of the Dung Quất 1 blast furnaces has a capacity of 1,080 cubic meters, while the new furnace at the Dung Quất 2 project boasts a volume of 2,500 cubic meters – twice as large and significantly more energy-efficient.
Hòa Phát is the largest steel producer in Southeast Asia, investing in modern technology and adopting a closed-loop, circular model. The company recaptures excess heat and utilizes residual coal from iron and steelmaking processes as fuel for boilers to generate electricity. In the first half of 2025, Hòa Phát achieved 90% self-sufficiency in electricity for steel production, resulting in savings of VND 3,500 billion.
By September 2025, the corporation will complete the second phase of the Hòa Phát Dung Quất 2 project. Upon completion, the group’s total steel production capacity will reach 16 million tons per year, including 9 million tons of hot-rolled coil, fully meeting the domestic market demand for this product.
In recent business developments, the “steel king” has recorded impressive results. In the first six months, the corporation reported revenue of over VND 74,000 billion and after-tax profit of more than VND 7,600 billion, up 5% and 23% year-on-year, respectively. These figures represent 44% and 51% of the company’s full-year revenue and profit targets for 2025.
During this period, crude steel output reached 5.1 million tons, a 17% increase, while sales volume reached 5 million tons, up 23%. Notably, hot-rolled coil (HRC) sales witnessed a 42% growth compared to the first half of 2024.
Hòa Phát raises HRC steel prices following China’s increase
Vietnam’s HRC Steel Market: Domestic Steel Sells Out, While Imports Lag
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Unlocking Profits: Hòa Phát’s Projected Tax Earnings for H2, 2025
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SSI Research paints a positive outlook for Hoa Phat Group in the latter half of 2025, attributing it to two key drivers: a promising upward trajectory for steel prices and the significant contributions from the Dung Quat 2 Steel Plant.
Steel Yourself: Navigating Growth Amidst Turbulence (HPG – Part 2)
Amid positive signals in the steel market, driven by supportive policies and stable raw material costs, Hoá Phát Group Joint Stock Company (HOSE: HPG) is poised to sustain its growth trajectory. HPG’s scale, capacity, and effective expansion strategies provide a competitive edge. With a reasonable valuation, HPG presents an attractive accumulation opportunity for long-term investors.
Industrial Production in Thanh Hoa Thrives with High Growth Over the Last Three Years
From 2021 onwards, this locality has witnessed a robust growth in its industrial production, with an estimated average annual growth rate of 15% in the industrial production index (IPP).
The Steel Stock That Unexpectedly ‘Faltered’ for 8 Straight Sessions After the State Shareholder Announced a Complete Divestment at a Sky-High Price
The steep upward trajectory pushed the price index to a peak not seen in over two years, with a significant boost in trading volume.
High-Speed North-South Rail Project: Unveiling the $67 Billion Venture’s Benefitting Businesses
The proposed project entails an estimated land requirement of approximately 10,827 hectares. The preliminary total investment for the project stands at an impressive 1,713,548 billion VND, which equates to over $67 billion USD. This substantial investment will be sourced from the state budget, allocated across various medium-term public investment plans, and other legitimate capital sources.
