The second largest HRC producer in Vietnam, Hoa Phat Group, has announced its new prices for HRC for deliveries in May and beyond to local customers. The company has followed the announcement of Formosa Ha Tinh Steel, which hiked its prices by $90/mt.
The new prices from Hoa Phat Group for SAE1006 and SS400 HRC for shipment in May and beyond have been settled at VND 20,850-20,900/mt ($912-914/mt) CIF, where the lower level corresponds to the price in the north, with the highest in the south. Current prices are $82-84/mt higher than last month.
This move by Hoa Phat Group has followed the $90/mt price increase by Formosa Ha Tinh Steel to $930/mt CFR for SAE1006 HRC (non-skin passed) announced on March 17. The current domestic prices of Hoa Phat Group are almost at the same level as those from China. In particular, the latest offers for ex-China SAE1006 HRC for May shipment were at $905/mt CFR and customers have also been seeing low-priced position offers for SS400 HRC from traders at $840-850/mt CFR this week.