Posted on 05 Aug 2025
Vietnamese producer Hoa Phat Dung Quat’s increase in hot rolled coil prices on Monday was expected, Kallanish learns from sources.
Chinese HRC prices soared last month and are only showing some signs of price correction in recent days.
Hoa Phat’s listed quotes, announced on 4 August, for non-skin passed SAE1006 or SS400 grade HRC for September delivery have been set at the equivalent of around $515/tonne cfr southern Vietnam, excluding VAT, up $15/t from last month.
In VND terms, the mill's latest HRC price of VND 13,580/kg cfr southern Vietnam is VND 530/kg higher than last month’s official VND prices. The prevailing exchange rate is VND 26,370 per dollar.
The mill’s quotes to northern and central Vietnam have been raised by the same margin to VND 13,550/kg cfr. Its prices are based on 40-50% of the lot comprising 2mm thickness strip and the remainder 2.3-3mm thickness.
The price hike may be too much for buyers to accept, a Hanoi trader says.
“The Vietnamese coated steel export business is very sluggish with small quantities going to Malaysia and Australia. Also, domestic inventories for HRC, and especially cold rolled and coated coil, are high,” he adds.
Buyers of large orders of 20,000t and more would get a discounted price of around $506-507/t cfr Southern Vietnam, another Vietnamese trader hears.
The price of Chinese 1,900-2,000mm 3-12mm Q235 grade HRC rose sharply by around $35-40/t last month with offers peaking at $497-500/t cfr on 30 July. Deals were heard to have transacted at $485-486/t cfr around that time. Offers for October shipments are prevailing at $484-486/t cfr Vietnam, trading sources said Monday.
Source:Kallanish
