- Higher coking coal costs raise steelmaking expenses
- Improving domestic demand provides price support
Formosa Ha Tinh Steel (FHS), a major Vietnamese steel producer, has increased its hot-rolled coil (HRC) prices by around $10/t (VND 260,455/t) for November-December 2026 deliveries, reflecting higher raw material costs and improving domestic demand.
Under the revised pricing, FHS’s SAE1006 skin-passed HRC is being offered at around $547/t CIF Ho Chi Minh City (VND 14,210,000/t) for a minimum order quantity of 20,000 t, up from around $537/t (VND 14,020,000/t) for September 2026 deliveries.
The latest increase is primarily attributed to higher coking coal costs, which have raised steelmaking expenses for producers. At the same time, improving domestic demand in Vietnam is providing additional support to HRC prices, allowing FHS to pass on part of the higher production costs to buyers.
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