Posted on 13 Nov 2024
Vietnamese hot strip producer Formosa Ha Tinh Steel (FHS) has announced similar monthly prices to its competitor, Hoa Phat Group, Kallanish notes.
Domestic producer Formosa Ha Tinh Steel set on 12 November its non-skin passed HRC for December/January shipment at VND 13,530/kg ($534/tonne) cfr southern Vietnam. These prices are for bookings for 20,000 tonnes or more, trading sources say. The mill has a price range for different tonnages, with larger quantities sold at lower prices. For orders of 10,000-20,000t, the firm’s sales price is $538/t cfr and for 5,000-10,000t, $541/t.
Prices are the same for SS400/pipe-making grade HRC. The mill's skin-passed SAE 1006 HRC is set at $5/t higher. Compared to last month’s official prices, its latest HRC values are $8/t lower, but in local currency they are VND 160,000/t higher.
Rival Hoa Phat announced its official domestic prices at the start of the month. It offered on 1 November its non-skin passed SAE1006 or SS400 grade HRC for January/February shipment at the equivalent of around $534/t cfr southern Vietnam, excluding VAT.
Trading sources in northern Vietnam hear the mill was able to sell out its domestic allocations. “They sold out all their volumes; I hear that it was more than 200,000t,” a Hanoi trader said on Tuesday. But he is uncertain it will be the same for FHS. “It is too soon to say,” he added.
Source:Kallanish
