News Room - Steel Prices

Posted on 02 Apr 2024

Vietnam's Hoa Phat slashes domestic HRC prices

Vietnam’s hot rolled coil producer, Hoa Phat Dung Quat, has lowered its monthly domestic prices in tandem with the weakness in the market over the past month, Kallanish notes.

Hoa Phat Dung Quat lowered its list sales prices by around $40/tonne for its latest domestic HRC price allocations on 1 April. The company's quotes for non-skin passed SAE1006 or SS400 grade HRC, due for delivery in June, have been set at the equivalent of around $550/t cfr southern Vietnam, excluding VAT.

“The (latest) price is good for rerollers,” a Hanoi trader says. He believes that current price levels are “very low now.” Offers for Chinese 2mm up thickness SAE 1006 HRC have risen by around $10/t to around $550/t cfr since last Friday because of the rebound in the Chinese steel futures on Monday, he adds.

In VND terms, the latest price of VND 13,740/kg to southern Vietnam is VND 980/kg lower than last month’s official monthly domestic price. The mill’s prices to northern and central Vietnam are set for this month at VND 13,710/kg. 

Source:Kallanish