Vietnam’s largest steel mill – Formosa is likely to increase HRC prices by $10-15/t in the domestic market next week on improved demand and rising global prices. Indicative offers are heard around $450/t CIF basis for Aug shipments, however an official announcement is still awaited. Last offer reported by the company for HRC skin pass was $440/t and for non skin pass was at $435/t CIF for July deliveries.
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