On December 13, major Vietnamese producer Formosa Ha Tinh announced its domestic hot rolled coil (HRC) prices for February delivery, increasing them by $15/mt compared to prices for January, following the sharp hike in import quotations. Though the price increase by the producer was bigger than the $10/mt hike last month, its offers for February are in line with import prices. Accordingly, Vietnam’s re-rollers will be interested in purchases domestically rather than buying large quantities from abroad in the near future.
The mill’s prices for SAE1006 grade skin-passed and not skin-passed HRC have reached $485/mt CFR and $480/mt CFR respectively. Its offers for SS400 grade HRC have increased to $475/mt CFR. Prices for SPHT3, S235JR, SG255, SS490 grades coils are at $505/mt CFR.
Import offers for ex-India SAE1006 have been received at 480-490/mt CFR Vietnam this week, while mills have started to ask $500/mt CFR for February shipment.