ASIA HRC: Major Vietnamese mills raise HRC offers amid market surge

Major Vietnamese steel mills raised their offer prices for hot-rolled coil in the week to Friday May 14 after major domestic suppliers Formosa Ha Tinh Steel and Hoa Phat Steel increased their offers for local buyers this week.

Formosa Ha Tinh Steel increased its offer for re-rolling grade HRC (non skin pass) for July shipment by $110-120 per tonne to $1,030 per tonne cif for domestic buyers. Sources said that its export offers were $1,100 per tonne fob.
Re-rolling grade HRC with skinpass will fetch an additional $5 per tonne premium, they added.
Hoa Phat Steel offered HRC at $1,018 per tonne cif north Vietnam, and at $1,020 per tonne cif central Vietnam. It was also offering HRC at $1,022 per tonne cif south Vietnam.

“There’s a slight discount for Hoa Phat’s materials, although many buyers are focusing on Formosa’s cargoes,” a Vietnamese trader told Fastmarkets on Friday.


Paul Lim

May 14, 2021

13:30 GMT