Vietnam's HRC prices rebound amid Formosa Ha Tinh supply cuts

Hot-rolled coil prices in Vietnam rebounded over the past week after domestic producer Formosa Ha Tinh Steel Corp cut its supply by up to a fifth.

The Fastmarkets MB weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $497-501 per tonne cfr for the week ending Monday June 24, up $4-6 per tonne from a week earlier.

Formosa Ha Tinh said it would reduce its supply of the product for delivery and shipment to all its customers in August by 16-20%, based on its current production rate of about 250,000-330,000 tonnes per month for commercial...

Published

Paul Lim

June 24, 2019

11:00 GMT

Singapore