- Second HRC price cut this month reflects demand weakness
- Competitive import offers weigh on domestic HRC prices
Major Vietnamese steel producer, Formosa Ha Tinh (FHS), has further reduced its hot-rolled coil (HRC) prices by around $15/t (VND 393,943/t) for Aug-Sep 2026 shipments, marking its second price revision this month. Following the adjustment, FHS’s SAE1006 skin-passed HRC is now priced at approximately $530/t (VND 13,919,348/t) in Ho Chi Minh City (HCMC) for orders above 20,000 t, compared with $545/t (VND 14,312,189/t) earlier this month.
The price cut was primarily driven by persistently weak domestic HRC demand in Vietnam, with buyers continuing to procure only for immediate requirements amid cautious market sentiment. Meanwhile, lower imported HRC offers have intensified competitive pressure on domestic producers, prompting mills to reduce prices to remain competitive and secure bookings.
Leave a Reply