Posted on 11 Sep 2025
Vietnam’s Formosa Ha Tinh Steel (FHS) has hiked domestic hot rolled coil prices for a consecutive month, Kallanish notes. Demand for domestic HRC has been good because of anti-dumping measures curbing Chinese-origin HRC supply.
Market speculation has now surfaced that there could be further tightening in restrictions against Chinese product with a possible trade case being launched against wide-width Chinese HRC.
FHS announced on Wednesday a hike of $11-12/tonne for its domestic non-skin passed SAE 1006 HRC prices for October/November shipment to the equivalent of $519-528/t cfr Vietnam – either Ho Chi Minh or Phu My ports.
The list price of $528/t (VND 13,994/kg) applies to bookings below 2,000 tonnes, with prices moving downwards for different tonnage order categories to the lowest of $519/t (VND 13,734/kg) for bookings over 20,000t. The Vietcombank exchange rate used is VND 26,482 per dollar.
Formosa’s price hike was not unexpected because fellow Vietnamese HRC producer Hoa Phat had hiked its HRC prices last week.
"I think customers will accept it [FHS' prices]," a Vietnamese trader says. Vietnamese buyers have limited choices, with Indonesian- and Malaysian-origin 3mm base thickness HRC offered at around $505/t cfr for November-shipment cargoes. Chinese 2,000mm-width Q235 grade HRC for November shipment is offered at about $490/t cfr, but buyers face the risk of a potential anti-dumping case. The weak VND also makes importing less attractive, he notes.
Hoa Phat announced on 3 September the price for its non-skin passed SAE1006 or SS400 grade HRC for November delivery at the equivalent of around $526/t cfr southern Vietnam, up $11/t from last month.
Source:Kallanish
