Vietnam’s domestic steel manufacturer- Formosa Ha Tinh (FHS) having an installed crude steel capacity of 7 mn t has announced a roll over in its HRC prices. Offers for skin pass HRC (SAE 1006) remain unchanged at $725/t CIF basis for Apr ’21 delivery, SteelMint learned from credible sources. Last month the mill had raised its domestic HRC offer by $65-70/t for Mar ’21 deliveries. Market participants have adopted a ‘wait & watch’ approach due to the resurgence of COVID-19 cases, along with Tet and Chinese New Year holidays.
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