Hoa Phat Adjusts Domestic HRC Prices Amid Market Weakness
[tintuc]
Vietnamese steelmaker Hoa Phat Dung Quat has reduced its domestic hot-rolled coil (HRC) prices in response to weaker market sentiment. The company's latest offer for non-skin passed SAE1006 or SS400 grade HRC for February/March shipment is around $527 per tonne CFR southern Vietnam, excluding VAT.
This represents a decrease of approximately $7 per tonne compared to the previous month's official price. In Vietnamese Dong (VND), the price reduction amounts to VND 220 per kilogram.
The price cut reflects the challenging market conditions faced by the Vietnamese steel industry, including the ongoing anti-dumping investigation on Chinese HRC imports. The investigation has led to uncertainty among buyers, who have been hesitant to stock up on Chinese imports. As a result, local steel producers like Hoa Phat and Formosa, as well as South Korean mills, may benefit from increased demand.
However, the impact of the anti-dumping case on the market remains uncertain. The industry is eagerly awaiting the final outcome of the investigation, which could significantly influence future import trends and domestic steel prices.
[/tintuc]
Vietnamese steelmaker Hoa Phat Dung Quat has reduced its domestic hot-rolled coil (HRC) prices in response to weaker market sentiment. The company's latest offer for non-skin passed SAE1006 or SS400 grade HRC for February/March shipment is around $527 per tonne CFR southern Vietnam, excluding VAT.
This represents a decrease of approximately $7 per tonne compared to the previous month's official price. In Vietnamese Dong (VND), the price reduction amounts to VND 220 per kilogram.
The price cut reflects the challenging market conditions faced by the Vietnamese steel industry, including the ongoing anti-dumping investigation on Chinese HRC imports. The investigation has led to uncertainty among buyers, who have been hesitant to stock up on Chinese imports. As a result, local steel producers like Hoa Phat and Formosa, as well as South Korean mills, may benefit from increased demand.
However, the impact of the anti-dumping case on the market remains uncertain. The industry is eagerly awaiting the final outcome of the investigation, which could significantly influence future import trends and domestic steel prices.
[/tintuc]
