- Improving domestic demand supports prices
- Higher coking coal costs lift production costs
Vietnamese steel producer Hoa Phat Group has increased its domestic hot-rolled coil (HRC) (SAE1006, non-skin-passed) prices by around $10/t (VND 260,215/t) m-o-m for November 2026 sales, marking another increase amid continued pressure from rising raw material costs.
Following the latest revision, HRC prices in southern Vietnam were set at approximately $555/t (VND 14,440,000/t), excluding VAT, up from around $545/t (VND 14,240,000/t) in October.
The increase comes amid continued pressure from elevated steelmaking costs, with coking coal prices remaining a key consideration for producers. Higher input costs have kept production costs elevated, providing a cost-based floor to HRC prices. Meanwhile, improving domestic steel demand has provided additional support to HRC prices.
Additionally, Indian HRC export offers to Vietnam remained unavailable as mills continued to prioritise domestic sales, leaving no volumes available for fresh export bookings.
Overall, higher input costs and improving domestic demand supported Hoa Phat’s decision to raise prices for November sales.
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