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Vietnam's Formosa Ha Tinh Steel to announce new prices for Dec early of next week

Posted on 07 October 2021

Affected by the epidemic and cheap import sources, Vietnam’s Formosa Ha Tinh Steel Corporation (FHS) decreased its hot-rolled coil (HRC) and wire rod prices from July to September.

Many steel mills stopped production for nearly two months and have resumed production gradually since October 1. The recent serve epidemic also affected FHS's orders and shipments in Vietnam.

After the lockout, FHS's shipment increased gradually. According to understanding, the price of India's low-cost materials decreased and Vietnam's SS400 low carbon steel transaction price also dropped. Affected by the above factors, it seems that FHS's price has difficulty to be increased.

Customers might transfer the purchase from China to Vietnam due to current power rationing measures. In addition, the fourth quarter is used to be the peak season for steel consumption. It was expected that FHS might keep or increase the price slightly for December.     

Source : Yieh