Vietnam’s domestic mill – Formosa Ha Tinh has announced a revision in its steel prices today. The company has raised HRC offers by USD 15/MT for Apr end-early May shipments.
According to sources, offers for HRC (SAE 1006 skin pass) is currently assessed around at USD 550/MT CIF Ho Chi Minh City and for HRC of SS400 grade is at USD 545/MT, CIF. However, confirmation from company officials could not be received at the time of publishing the report.
Last month offer for SAE1006 was around USD 535/MT CFR basis. Previous month company had increased HRC (SAE 1006 skin pass) offers by USD 35-40/MT.
Company increased its HRC offers following a surge in imported HRC offers from India and China. Chinese HRC export offers to Vietnam have increased by about USD 20/MT M-o-M.
Currently imported HRC offers to Vietnam from China is assessed around USD 550-555/MT CFR basis and offers from Indian mills are seen at USD 560-565/MT, CFR.
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