Updates on HRC Price Steel From Top Manufacturers Vietnam – GTS Steel

FHS Revises Domestic Prices of HR Coils Downward by $10 for Mar Shipment

Possibly to counteract offer prices of Indian steelmakers

According to a source, Formosa Ha Tinh Steel (FHS) of Vietnam seems to have made till 19th a downward revision of its domestic prices of hot-rolled (HR) steel coils by US$10 in dollar equivalent for March shipment. The company raised its prices of HR coils by $25 ditto to $635-645 ditto.

Accordingly, its new prices are $625-635 ditto. Hoa Phat Group (HPG) of that country set its prices of such products at $640 ditto for shipments of March/April, and the source is observing that HGP also may lower its prices.

Against a backdrop of FHS’s price revision, the company seems to compete with Indian steelmakers that have made offers of prices of HR coils at $615-620 CFR for Vietnam. It is reported that Vietnamese customers of HR coils have complained about higher prices of Vietnamese integrated
steelmakers than those of Indian steelmakers.
Therefore, FHS is likely to have had no choice but to reduce its prices to maintain its domestic market share.

In the Asian region, Korea’s POSCO expressed a return to the domestic market and raised its domestic prices of such products by 50,000 won (a little less than $40 in dollar equivalent) for January shipment and also by 50,000 won for February shipment. While, many of Chinese steelmakers have left their export prices of this week unchanged. Amid such circumstances, FHS has suddenly shown a bearish stance, which is concerned about an influence on other countries.

Incidentally, the Japanese steelmakers concluded contracts of HR coils at increased prices of more than $20 for Korea for February shipment.

China’s Steel Market Sees 7 Items Fall in the 3rd Week of January
= With the price of imported iron ore rising slightly to CNY 957 =

According to China Iron & Steel Association (CISA), the country’s steel market in the third week of January (15th – 19th) saw all but ERW tube further fall week-over-week. No price falls have lasted for two consecutive weeks since last year’s National Day; therefore, price movements in the
remaining two weeks until the Lunar New Year will be watched closely.

Week-over-week, the price of wire fell by 0.4%. Likewise, deformed bars fell by 0.3%, angles by 0.4%, plate by 0.3%, cold-rolled coil (CRC) by 0.2%, and hot-dip zinc-coated sheet by 0.2%. ERW tube rose by 0.2%.

The price of hot-rolled coil (HRC) fell by CNY6 (US$0.8) week-over-week to CNY 4158 (US$578), though it managed to stay above CNY 4100.
Meanwhile, the price of imported iron ore rose by CNY8.5 (US$0.7) week-over-week to CNY 957.00 (US$133.02).

If you are looking for HRC, Coated steel sheet in coils (GI, GL, PPGI, PPGL) and steel pipe products from manufacturers in Vietnam, kindly send your enquiry to us.

We believe that we will find the best quotation for you:

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