Posted on 11 Jul 2025
Vietnam’s “other” hot rolled coil producer, Formosa Ha Tinh Steel, will likely find price acceptance for its latest HRC allocations after lowering prices, Kallanish notes.
The steelmaker announced on 9 July its domestic non-skin passed SAE 1006 HRC prices for August/September shipment at the equivalent of $497-500/tonne cfr southern Vietnam. This is around $11/t lower than the mill’s previous monthly prices for July/August shipments.
The list price of $507/t (VND 13,334/kg) applies to bookings below 2,000 tonnes, with prices moving downwards for different tonnage order categories to the lowest of $497/t (VND 13,074/kg) for bookings of minimum 20,000t.
“Buyers will have no choice but to accept the prices,” a domestic reroller says. He points out that largest producer Hoa Phat managed to sell out its latest HRC allocations last week because anti-dumping duties have effectively blocked out normal-width China-origin HRC imports into Vietnam. "Formosa's HRC price is reasonable compared with Indonesian- and Chinese-origin HRC," a southern Vietnam trader says.
Formosa’s prices are a little higher than that of its rival but they are still reasonable for both the mill and customers, a Hanoi trader says. “Its prices are reasonable, which re-rollers and pipemakers can accept,” he notes.
Hoa Phat’s official price for non-skin passed SAE1006 or SS400 grade HRC for August delivery was reduced by a similar $11/t margin to around $500/t cfr southern Vietnam, excluding VAT. It was heard to be giving around $12/t discounts for orders of at least 20,000t, selling out its entire allocation of 400,000-500,000t last Friday.
Market sources tell Kallanish that Hoa Phat is completing repairs to its 1.2 million tonnes/year damaged blast furnace next month. The mill's HRC capacity is scheduled to reach 8.6m t/y in the last quarter.
Source:Kallanish
