Vietnamese steel giant Hoa Phat Group achieved a crude steel production output of 707,000 tonnes in January 2022, up 5% YoY while sales volume reached 631,000 tonnes, including construction steel, steel billet, hot rolled coil. In which, construction steel accounted for 382,000 tons, two times higher than the corresponding period of 2020. Hot rolled coil also recorded a high volume of 228,000 tonnes.Hoa Phat’s construction steel production increased sharply in the domestic market due to increased demand for civil construction and projects before Tet (Lunar New Year). The South and Central regions had the strongest growth, 2 and 3 times increases respectively over the same period of 2020. By meeting the strict standards of UK Cares, JIS of Japan, ASTM of USA & BS of UK, Hoa Phat’s high quality construction steel continues to receive large orders in the international market. Construction steel export volume in January reached 116,000 tons, 3 times higher than the same period in 2021. The main export markets include Singapore, Hong Kong, Canada, Japan, South Korea & Cambodia.The market demand for hot rolled coil products has been increasing day by day. Every month, domestic customers offer to buy more than 300,000 tonnes of HRC. However, at maximum capacity, Hoa Phat Group can only meet the output of about 250,000 tonnes. Hoa Phat receives orders from the US, Canada, Mexico, Italy, Germany, South Korea, Indonesia, etc. However, Hoa Phat's output is not enough to meet the market's demand.Downstream steel products such as prestressed steel, steel pipes, galvanized steel, and wire drawn steel have also been positively given attention in the market, of which galvanized steel recorded a growth of 68% YoY increase.Hoa Phat's crude steel capacity is currently more than 8 million tonnes a year including 5 million tonnes of construction steel and 3 million tonnes of HRC. Hoa Phat Group is promoting the implementation of the Hoa Phat Dung Quat 2 Steel Integrated Complex project, focusing on producing hot rolled steel coil with a capacity of 5.6 million tonnes a year. It is expected that when the project comes into operation in 2025, Hoa Phat's steel production capacity will reach about 14 million tonnes a year, including 8.6 million tonnes of HRC.