Posted on 12 Feb 2025
The Vietnamese hot rolled coil market has dipped further with a local producer cutting its domestic monthly prices, Kallanish notes. Weak demand is the main reason for the decline.
Vietnamese hot strip producer Formosa Ha Tinh Steel (FHS) announced on 11 February a cut for its domestic HRC prices for April shipment. For bookings of 20,000 tonnes and more, the mill’s non-skin passed HRC was set at VND 12,597/kg ($494/tonne) cfr southern Vietnam, compared to VND 13,034/kg last month.
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 latest sales price is $497/t cfr southern Vietnam, for 5,000-10,000t it is $500/t, and for 2,000-5,000t – $503/t. This represents a $15/t price drop compared to last month.
FHS’s latest prices are set lower than those by its rival mill. Hoa Phat Group announced on 7 February its prices for non-skin passed SAE1006 or SS400 grade HRC for April delivery at VND 12,840/kg (around $507/t) cfr southern Vietnam.
“Demand is weak,” a source close to the company says. “The market is quite slow,” a Vietnamese trader observes. “Export volumes [for coated steel] are quite low and domestic HRC demand is not good,” another notes.
Source:Kallanish
