According to market sources, having cut its prices for August shipment, Vietnamese producer Formosa Ha Tinh has increased its domestic hot rolled coil (HRC) offers by $25/mt for September shipment.
As a result, the mill’s offers for SAE1006 grade skin-passed HRC are now at $541/mt CFR, with offers for HRC which has not been skin-passed at $536/mt CFR, SS400 grade HRC offers standing at $31/mt CFR.
Import HRC prices in Vietnam are currently in the range of $515-525/mt CFR, for August shipment and depending on the supplier, but foreign suppliers’ prices may also move up against the backdrop of Formosa’s decision and also due to higher quotations in the Chinese markets.