Posted on 06 May 2025
Vietnamese producer Hoa Phat Dung Quat has lowered its monthly domestic hot rolled coil prices, Kallanish notes. The latest price move is a reversal of the company's price increases for the previous two months.
Hoa Phat’s listed quotes, announced on 5 May, for non-skin passed SAE1006 or SS400 grade HRC for June delivery have been set at the equivalent of around $513/tonne cfr southern Vietnam, excluding VAT, Vietnamese steel industry sources say. In VND terms, the latest price of VND 13,390/kg cfr southern Vietnam is a decrease of VND 110/kg ($4/t) over last month’s official VND prices. The prevailing exchange rate is VND 26,100 per dollar.
The drop in local terms is "not much", a trader in Hanoi says. "They want to keep the market stable.” The mill’s quotes to northern and central Vietnam are now set at VND 13,360/kg cfr. Its prices are based on 40-50% of the lot comprising 2mm thickness strip and the remainder 2.3-3mm thickness.
Trading sources in Vietnam had anticipated last week that the producer will lower its HRC prices because the market is depressed. Some also think it may need to offer further discounts, particularly for bulk orders, to entice sales to large-volume customers.
Source:Kallanish
