Vietnamese HRC producer Hoa Phat Group has announced new local HRC prices for September shipment, increasing them by around $15/mt from the levels announced on July 1. The price hike comes amid firmer market sentiment, supported by stable-to-stronger import HRC offers and a slightly improved outlook in China.
Specifically, on August 4, Hoa Phat’s prices for SAE1006 and SS400 non-skin-passed HRC were set at VND 13,550/kg ($517/mt) CIF in northern and central Vietnam, and VND 13,580/kg ($518/mt) CIF in the south. This represents an increase of $15/mt compared to the previous month’s levels of VND 13,120-13,150/kg ($502-503/mt) CIF.
According to market sources, Hoa Phat’s upward adjustment is in line with expectations given current import HRC levels, though some local buyers remain cautious due to moderate downstream demand. Indicative offers for ex-China 2,000 mm Q235 HRC, which are not subject to antidumping duty, have been reported at $495-497/mt CFR for August shipment, up by $2-5/mt week on week and above last month’s $452/mt CFR. Meanwhile, ex-China SAE1006 HRC offers have been voiced at around $505-510/mt CFR, up by $5/mt week on week, though interest from Vietnamese buyers is still limited due to applicable duties.
Offers from Indonesia for SAE1006 HRC have been heard at $505-510/mt CFR for September and October shipment, up by $5/mt week on week, while offer prices for ex-Japan SAE1006 HRC stand at around $515/mt CFR.
As a result, the SteelOrbis reference price for import SAE1006 HRC has moved to $505/mt CFR, compared to $500-505/mt CFR in the previous week.