Posted on 16 Oct 2025
Vietnam’s Formosa Ha Tinh Steel (FHS) has maintained its domestic hot rolled coil prices for its latest allocations, Kallanish notes.
Vietnamese trading and reroller sources have anticipated this because of the currently weak market conditions.
FHS announced on Wednesday that its domestic non-skin passed SAE 1006 HRC prices for December shipment are at the equivalent of $522-532/tonne cfr Vietnam – for either Ho Chi Minh or Phu My ports (see table).
While the prices in local Vietnamese currency are unchanged from last month, the dollar-denominated prices are higher. The company's prices last month were at the equivalent of $519-528/t cfr.
FHS has kept its prices unchanged from last month which mirrors that of fellow-producer, Hoa Phat Group, earlier this month.
“I don’t think that they can collect the necessary sales volumes if they raised prices,” a Hanoi trader says.
“The situation is very bad. To be honest, we cannot sell now at whatever price we offer at,” a Vietnamese reroller and galvanizer says.
"There is hardly any export demand and too much supply,” he adds. He does not see any improvement in the market until the first quarter of 2026.
Source:Kallanish
