Vietnam: Hoa Phat cuts HRC prices by up to $40/t for Feb’22 deliveries

Leading Vietnamese steel producer, Hoa Phat, has reduced HRC prices by $35-40/t for Feb’22 despatches, SteelMint learnt from Vietnam-based sources.

• Offers for HRC (SAE 1006, skinpass) are at $795-800/t on CIF basis.
• The continual decline in imported HRC offers from major exporting nations and downward price revisions by steel major Formosa are the key factors.
• In Jan-Nov’21, the company sold around 8 mn t of finished steel products.