This week, major Vietnamese HRC producer Formosa Ha Tinh has announced its new prices for April and May delivery, increasing them slightly month on month by around $6/mt.
More specifically, after the announcement at the beginning of last week by Hoa Phat Group of new local HRC offers at unchanged levels, this week FHS has also announced its new prices for non-skin passed SAE1006 and SS400 HRC, increasing them by $6/mt to $518/mt CIF for orders for a minimum of 2,000 mt. For 5,000-10,000 mt volumes the price has settled at $512-514/mt CIF, and at $508-510/mt CIF for 10,000-20,000 mt orders.
The current prices from Formosa for the local market for large volumes are around $2-3/mt higher than those from the other major Vietnamese producer Hoa Phat Group ($515-516/mt CIF).
In the meantime, given the imposition of export licenses in China, Chinese traders who had earlier offered their non-VAT material at cheaper prices have left the Vietnamese market, with the indicative offers for ex-China Q235 HRC reported at $490-500/mt CFR for April shipment.
At the same time, offers for ex-India SAE1006/SS400 HRC have been voiced at $495/mt CFR for April and May shipment, mainly the same as last week.
Thus, the SteelOrbis reference price for import SAE1006 HRC in Vietnam has settled at $495-500/mt CFR, the same as last week, up by $2/mt on the lower end of the range week on week.
