Vietnam gets competitive on HRC exports after producers slash offers

Vietnamese HRC is shaping up to be a competitive export supply source after the latest price announcement by major domestic producer Formosa Ha Tinh Steel Corp, market sources told Fastmarkets.

The blast furnace-based producer cut its March-shipment and delivery offers by $70 per tonne on Wednesday January 12 in light of the weak HRC markets in Asia.
It is now offering SAE1006 HRC without skinpass at $750 per tonne cif for Vietnamese customers and at $740 per tonne fob for overseas buyers. It is also offering SAE1006 HRC with skin pass at $755 per tonne cif and SS400-grade/pipemaking-grade HRC at $745 per tonne cif.
A seller source close to the company said aggressive offers by Indian producers, as well as weaker demand in the United States, Europe and other parts of Asia, were among the main reasons for the lower offers.

Market...

Published

Paul Lim

January 14, 2022

10:06 GMT

Singapore