The second largest HRC producer in Vietnam Hoa Phat Group has announced its new prices for HRC for July and beyond deliveries to the local customers. The company has followed the aggressive uptrend in the market, voicing new prices just a day later after the announcement of Formosa Ha Tinh, which hiked prices by $120/mt.
The new prices from Hoa Phat Group for SAE HRC have been reported at $1,018/mt CIF to North, $1,020/mt CIF to Central and $1,022/mt CIF to South Vietnam. This indicates $121-122/mt rise on average compared to the previous month.
Most market sources said that demand for HRC in the local market in Vietnam is good now. There are expectations that import prices will continue to go up by the end of May, so re-rollers are in a mood to restock in the local market.