Posted on 04 Sep 2025
Vietnamese producer Hoa Phat Dung Quat hiked its hot rolled coil prices on Wednesday, Kallanish learns from sources.
This came as a surprise to some traders as Chinese futures, the main driver behind increased HRC prices in Vietnam, corrected downwards, while domestic Vietnamese demand remained sluggish.
Hoa Phat’s listed quotes, announced on 3 September, for non-skin passed SAE1006 or SS400 grade HRC for November delivery have been set at the equivalent of around $516/tonne cfr southern Vietnam, excluding VAT, up $11/t from last month.
In VND terms, the mill's latest HRC price of VND 13,930/kg ($0.53/kg) cfr southern Vietnam is VND 350/kg higher than last month’s official VND prices. The prevailing exchange rate by Vietcombank is VND 26,508/dollar.
The Vietnamese mill’s quotes to northern and central Vietnam have been raised by the same margin to VND 13,900/kg cfr. Its prices are based on 40-50% of the lot comprising 2mm thickness strip and the remainder 2.3-3mm thickness.
"I don’t understand why they raised prices because Chinese futures have dropped," a Hanoi trader says.
Another Vietnamese trader notes that an increase by up to $5/t would have been more realistic. “Coated and CRC export prices cannot increase,” he adds.
Chinese 1,900-2,000mm 3-12mm Q235 grade HRC offers are prevailing at $493/t cfr Vietnam, while bids are being invited at $490/t cfr, trading sources say. They hear the most recent deals taking place at $492/t cfr last week. Offers reached highs of $505-510/t cfr on 11 August.
Source:Kallanish
