- Higher coking coal costs lift production costs
- Seasonal demand pickup, tighter supply prop up prices
Vietnamese steel producer Hoa Phat Group has increased its domestic hot-rolled coil (HRC) (SAE1006, non-skin-passed) prices by around $9/t (VND 235,074/t) m-o-m for October 2026 sales, amid higher raw material costs, firmer import offers and expectations of stronger seasonal consumption.
Following the latest revision, HRC prices in southern Vietnam were set at approximately $545/t (VND 14,240,000/t), excluding VAT, up from around $536/t (VND 13,990,351/t) in September.
The increase comes as surging coking coal costs continue to raise production costs for steelmakers, while the upcoming peak consumption season is expected to support a pickup in buying activity. Upcoming blast furnace maintenance is also likely to tighten near-term material availability, further supporting firmer pricing.
Meanwhile, higher import offers are making overseas material less competitive, with Indian HRC export offers holding around $540/t CFR. Overall, higher input costs, an expected seasonal pickup in demand and tighter supply prospects are therefore supporting Hoa Phat’s decision to raise October prices.
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