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Hoa Phat posts highest crude steel output to date in January | Business

Illustrative photo (Source: VNA)
Hanoi (VNA) - The
Hoa Phat Group, Vietnam’s leading steel
producer, produced more than 670,000 tonnes of crude steel in January, its highest
output to date and representing an annual growth of 67 percent.
The conglomerate said the fourth blast furnace at its Hoa Phat Dung Quat
iron and
steel production complex came into operation in the opening month of the
year, officially raising its total
This created favourable conditions for the firm to boost its manufacturing of
hot-rolled coil (HRC), for which it has set a target of 2.7 million tonnes this
year.
Hoa Phat’s finished construction steel output, meanwhile, grew 6 percent ....

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Iron ore hits four-week high as China demand prospects back in focus

Iron ore hits four-week high as China demand prospects back in focus
Reuters
Manila |
Updated on
China’s 2020 crude steel output at record high
Benchmark Dalian and Singapore iron ore futures hit four-week highs on Monday as China’s forecast-beating quarterly GDP growth helped shift investor focus back to demand prospects for the raw material in theworld’s top steel producer.
China’s economy expanded 6.5 per cent year-on-year in the final quarter of 2020 and looks poised to expand further this year, lifting market sentiment dampened by the country’s fresh restrictions to curb the spread of Covid-19 infections.
The most-active May contract for iron ore on China’s Dalian Commodity Exchange rose as much as 2.5 per cent to 1,084.50 yuan ($167.29) a tonne, its strongest since December 22. ....

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