- Higher coking coal costs lift production costs
- Fire at FHS raises near-term supply concerns
Formosa Ha Tinh Steel (FHS), a major Vietnamese steel producer, has raised its hot-rolled coil (HRC) prices by around $15/t (VND 200,000/t) for October-November 2026 deliveries. Under the revised pricing, FHS’s SAE1006 skin-passed HRC is now offered at approximately $537/t CFR Ho Chi Minh City (VND 14,020,000/t) for a minimum quantity of 20,000 tonnes (t) or above, up from $522/t (VND 13,820,000/t) in September 2026. The revision reflects higher raw-material costs, particularly coking coal, while firmer import offers and expectations of stronger seasonal demand are providing further support to prices.
Moreover, a recent fire incident at FHS’s blast-furnace facility has raised expectations among market participants of tighter near-term production and material availability. Some buyers have started shifting purchases towards competing steelmakers to secure supplies while visibility on FHS’s operating situation remains limited.
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