Vietnam: Hoa Phat cuts HRC prices by over $130/t m-o-m

Vietnamese integrated steel manufacturer Hoa Phat has lowered HRC prices by around $130/t for July and early-Aug’22 deliveries in the domestic market. After this price revision, the offer for HRC (SAE1006) now stands at VND 18,300-18,400/kg ($793/t) CIF Ho Chi Minh City. Drop in sales, steep drop in offers for imported HRC, and price cuts by Formosa fuelled this price cut, SteelMint notes.