Vietnam: Hoa phat cuts HRC offers by $50/t m-o-m

Vietnam’s leading steel manufacturer Hoa Phat has reduced its list price of HRC (SAE 1006) by $50/t m-o-m, a Vietnam-based source informed SteelMint.

• The company’s current offer stands at $920-925/t on CIF basis for Sept ’21 deliveries.
• Earlier, for Aug deliveries, Hao Phat was offering HRC at around $965-970/t CIF
• The company posted steel sales at 4.3 mn t in H1 CY ’21
• Prices have fallen in the domestic market following a decline in HRC import offers from India, China and Russia along with reduction in prices by Formosa.