[Ferro-Alloys.com] The steel output of Hoa Phat Group, Vietnam’s leading steel producer, exceeded the 5-million-tonne benchmark for the first time in 2020.

Of the total output, construction steel reached 3.4 million tonnes, up 22.5 percent year-on-year, while steel billets hit 1.7 million tonnes, and hot rolled coil (HRC) was nearly 700,000 tonnes.

With these figures, Hoa Phat maintained its top position in Vietnam, accounting for 33 percent of the market share, up 6.8 percent year-on-year.

With an output of 784,000 tonnes for the whole year, the southern region recorded a remarkable growth of 70 percent compared to that of the previous year. Meanwhile, the northern region contributed the largest share, with 48 percent of the total finished products sold by Hoa Phat.

Japan's ferrous scrap exports in November slowed from a 2020 high in October as a surge in domestic scrap prices reduced supply available for export.

Exports fell by 25pc to 688,829t from October but increased on the year, Japan customs data showed. January-November exports rose by 25pc from a year earlier to 8.64mn t.

Shipments to Vietnam fuelled gains in October. That restocking built adequate stocks across major buyers in Vietnam and South Korea before seaborne prices began to rise sharply. Rapid gain in seaborne price have since sidelined spot buyers in those countries.

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• [Editor:kangmingfei]