Major Vietnamese producer Formosa Ha Tinh has started to offer wire rod for August delivery at $15/mt higher prices than last month. Its price for grade 2 mesh quality mild wire rod has reached $486/mt CFR. Mesh quality wire rod offers are at $496/mt CFR, according to reports from Vietnamese sources who have received offers.
At the same time, Formosa Ha Tinh has increased prices for billet, which it mainly supplies to the domestic market, by $9/mt. The price level for SD295 billet (equivalent to Q235) has been set at VND 9,268/kg ($397/mt) CFR, while the price for SD390 billet is at VND 9,448/kg ($405/mt) CFR.
Export billet prices from another big Vietnamese supplier are still heard at $408/mt FOB and above, mainly to China. But bids have already dropped to $400-405/mt CFR China maximum.