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World production declines
Data from the World Steel Association (World Steel) shows that crude steel production of 64 countries in October 2022 at 147.3 million tons, in the first 10 months of 2022, global crude steel output reached nearly 1,552.7 million tons, down 3.9% over the same period.
The World Steel Association forecasts that global steel demand in 2022 is expected to decline by 2.3% to 1,797 million tons, then recover slightly by 1% in 2023 to nearly 1,815 million tons.
High energy prices, rising interest rates and falling demand have led to a slowdown in activity in steel-using industries. Illustration
Specifically, steel production in October in Asia reached 107.3 million tons, up 5.8% over the same period last year. After 10 months, this sector produced 1,145 million tons, down 2.1% over the same period.
China's crude steel output in October reached 80 million tons, up 11% year-on-year. Generally, in the first 10 months of the year, China's crude steel output reached 861 million tons, down 2.2% over the same period in 2021.
Similarly, the Middle East countries have a growth in production with 4 million tons, up 6.7%. Africa also recorded a 2.3% increase in October, at 1.4 million tonnes.
Also in October 2022, the EU region produced 11.3 million tons of crude steel, down 17.5%. Generally, in the first 10 months of the year, this sector produced 117 million tons, down 9.2%.
Meanwhile, Russia and countries in the CIS region reached 6.7 million tons, down 23.7%. Steel volume in the 10-month period reached 72.6 million tons, down 19% compared to the same period in 2021 in the context of the conflict between Russia and Ukraine showing no signs of cooling down.
In North America, in September, crude steel production reached 9.2 million tons, down 7.7%. Meanwhile, crude steel production in South America this month reached 3.7 million tons, down 3.2% year on year.
Focus on domestic autonomy
With "big man" Hoa Phat, the Group's representative said that it is currently focusing on developing products with input materials from high-quality coiled steel and hot-rolled coil (HRC).
This helps Vietnam's mechanical engineering industry reduce its dependence on foreign supplies, proactively produce raw materials in the domestic market, ensure input quality, and reduce storage costs. …
Currently, Hoa Phat Dung Quat Steel has successfully produced steel coils for car tires with steel grades SWRH82A, SWRH 72A. Steel thread for car tires has a very small diameter of 0.2-0.78mm.
Up to now, Hoa Phat is the first and only steel enterprise in Vietnam that has the potential to produce HRC, helping the Vietnamese steel market to be less dependent on imports. Photo: Hoa Phat
Especially, right after successfully producing new products, the company received orders of over 3000 tons/month from partners. In addition, Hoa Phat is optimizing and improving technology to provide high-quality coils for screw production and many other types of mechanical steel.
Accordingly, hot-rolled steel coil is used as a raw material for the production of steel pipes, roofing sheets and other specific products such as container shells, etc. The products have a common thickness of 1.2mm - 14mm, size from 1, 2m - 1.5m, with steel grades SAE, SS400, SPHC, SPHT. Products meet rigorous standards such as ASTM (USA), JIS (Japan) and GB/T (UK).
Since releasing the first HRC coil in May 2020, Hoa Phat has produced about 5.6 million tons. In the first 10 months of the year, the Group produced and supplied 2.3 million tons to the market, up 9% over the same period, mainly to meet the domestic market. This is equivalent to 43.9% of HRC produced in Vietnam since the beginning of the year.
With HRC, Hoa Phat is self-sufficient in input materials for the production of steel pipes, galvanized sheet, container shell, section steel, industrial steel, providing high quality products at competitive prices for mechanical engineering factories. other in Vietnam.
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