Vietnamese steelmaker Formosa Ha Tinh Steel on March 9 raised its monthly domestic hot-rolled coil offers for April and May shipment by $1/mt month over month, a mill source and several Vietnam-based traders said.
The latest offers for non-skinpassed SAE1006 and pipemaking SS400 were indicated at $509-$519/mt CIF domestic ports, with large orders of more than 20,000 mt taking the lower end of the range.
Skinpassed SAE1006 is typically quoted at a $5/mt premium. The mill raised its domestic HRC offers for April and May shipment by $1/mt month over month, offering SS400 and SAE1006 coils without skinpass at Vietnamese Dong 13,635/kg, or $519/mt, CIF North and Central Vietnam.
Market participants said Formosa’s latest offer is consideredreasonable, especially considering domestic peer Hoa Phat’s latest price stood at $515-$516/mt CIF domestic ports.
Vietnam’s domestic HRC demand was heard to be lukewarm, while buyers showed little interest in imported materials as well, according to Southeast Asian sources.
