Vietnam: Formosa Ha Tinh Rolls Over HRC Price for Apr'20

Vietnam's domestic integrated steel maker Formosa Ha Tinh has announced roll over in its hot-rolled steel prices for Apr'20 deliveries. According to the company's official report to SteelMint, offer for HRC (SAE 1006, skin pass) is assessed at USD 520/MT CIF Ho Chi Minh for Apr'20 deliveries, unchanged against last month.

Offer for HRC (SAE 1006, non-skin pass) stands at USD 515/MT CIF basis and of HRC (SS400 & Pipe-making grade) stands at USD 510/MT CIF basis for Apr'20 and Mar'20.

The company kept its HRC prices stable in anticipation of increased demand in Vietnam. However, the Chinese steel mills significantly declined imported HRC offers to Vietnam amid coronavirus outbreak. On a monthly premise, imported HRC offers to Vietnam decline by USD 40/MT.

Current HRC export offers to Vietnam-

1.HRC (SAE 1006) 2mm, China- Benxi is offering at USD 480/MT CFR basis in contrast with USD 500/MT CFR basis towards the end of the previous week.

2.HRC (SAE 1006) 2mm, China- Maanshan Steel's offer is at USD 470/MT CFR basis. The previous offer was at USD 490/MT CFR basis.

3.HRC (SAE 1006) 2mm, China- Rizhao Steel's offer is at USD 475/MT CFR basis.

4.HRC (SAE 1006) 2mm, South Korea- Hyundai Steel's offer is at USD 485/MT CFR basis.

Wire Rod offer remains unchanged- Formosa has kept its merchandise quality- 2 wire rod offers unchanged at USD 500/MT CIF basis for Apr'20 deliveries.