Posted on 08 Oct 2024
A Vietnamese producer has announced a price increase for local HRC sales, Kallanish notes. This mirrors another Vietnamese producer's price increase earlier this month and follows a strong surge in Chinese HRC prices.
Domestic producer Formosa Ha Tinh Steel has raised HRC prices for December shipments by around $30/tonne. The price for its non-skin passed HRC was set at VND 13,280/kg ($533/t) cif Haiphong and at VND 13,430/kg ($539/t) cif Ho Chi Minh City. These prices are for bookings for 10,000t and more, trading sources say.
Prices are the same for SS400/pipe-making grade HRC. The mill's skin-passed SAE 1006 HRC is set at $5/t higher. The mill has a price range for different tonnages, with larger quantities sold at lower prices.
Rival mill, Hoa Phat Group had last week announced a price hike of around $34/t for December deliveries. The latest price hike "shows that FHS is cautious and wants to give reasonable sales prices instead of offering too high prices and then later on resort to discounting,” a Vietnamese trader says. Last month, the mill is widely heard to have introduced a $10/t discount for bookings of 20,000t and more.
Source:Kallanish
