Posted on 11 Aug 2025
Vietnam’s Formosa Ha Tinh Steel has hiked domestic hot rolled coil prices, Kallanish notes. Buying of domestic HRC has been strong since anti-dumping measures were imposed on Chinese HRC earlier this year. The strong run-up in Chinese HRC last month has also provided momentum for higher price acceptance in the region.
The steelmaker announced on 8 August a hike of around $10/tonne in its domestic non-skin passed SAE 1006 HRC prices for September/October shipment at the equivalent of $507-517/t cfr southern Vietnam.
The list price of $517/t (VND 13,644/kg) applies to bookings below 2,000 tonnes, with prices moving downwards for different tonnage order categories to the lowest of $507/t (VND 13,384/kg) for bookings of minimum 20,000t.
A Chinese trader had expected a price hike of more than the announced $10/t. He says he was receiving bids at $495/t cfr for 1,900-2,000mm width, 2mm and up thickness Chinese SAE 1006 against his offered $500/t cfr for stock cargoes at Ho Chi Minh City port. He reports Chinese 1,262mm width, 3mm thickness Q195 was booked at $475/t cfr on Friday.
Quotes for China-origin 1,900-2,000mm width, 3-12mm thickness Q235 grade HRC for October shipment were prevailing at $490-495/t cfr, up from $484-486/t cfr on 4 August.
Meanwhile, similar to last month, rival producer Hoa Phat managed to sell out its latest HRC allocations within a week of releasing them.
Hoa Phat announced on 4 August its non-skin passed SAE1006 or SS400 grade HRC prices for September delivery at around $515/t cfr southern Vietnam, excluding VAT, up $15/t from last month.
The mill accomplished sales of nearly 500,000t, trading sources reported on Friday. “This surprised me,” says a local trader who had initially thought that sluggish demand for coated steel and pipe would hold back HRC buying. The mill gave discounts, as usual, for bulk orders of at least 20,000t. He hears the discounts amounted to around $12/t, while another trader says these orders would get a discounted price of $506-507/t cfr southern Vietnam.
Kallanish assessed SAE grade 2-2.7mm thickness HRC at $495/t cfr Vietnam, up $2.5 week-on-week.
Source:Kallanish
