Posted on 19 Oct 2023
In early October, Hoa Phat announced its new base rate, and the price of hot-rolled coil (HRC) was revised down by US$10/ton compared with last month. Besides, additional discounts are offered for customers who purchase in bulk of more than 20,000 tons, and most clients also have reasonable discounts.
At present, local distributors point out that Hoa Phat has received orders and reached its production quota target, domestic and foreign sales are booming, and there is no news of a price cut. Therefore, the market is paying attention to Ha Tinh Steel, which is about to announce its new base rate soon.
According to statistics, Vietnam imported about 7.6 million tons of HRC in 2022, and there was a 30% decrease in the first half of this year compared with the same period a year ago. The decrease was mainly due to sluggish demand and competitive prices from local steel mills.
Source:Yieh
