Major Vietnamese producer Formosa Ha Tinh has started to offer wire rod for September delivery at the same prices as reported for August. Its price for grade 2 mesh quality mild wire rod has remained at $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, but moderately, by $6-7/mt compared to offers for August, taking into account the current exchange rate. The price level for SD295 billet (equivalent to Q235) has been set at VND 9,380/kg ($403.7/mt) CFR, while the price for SD390 billet is at VND 9,448/kg ($411/mt) CFR.
Export billet sale prices from another big Vietnamese supplier were heard at $423/mt CFR China for 60,000 mt, as SteelOrbis reported earlier this week. On Friday, July 17, some sources report that the new deals for Southeast Asian billet (Vietnmaese and Indonesian in particular) have been signed at $425-428/mt CFR, but Chinese customers have denied this information so far.