Vietnam: Formosa Lowers Billet Offers by USD 10/MT

Formosa Ha Tinh Corporation (FHS), Vietnam's largest steel manufacturer of the country has revealed its billet offers today for Apr'20 shipments.

The price offered for billet by the company is reported to be USD 418/MT, CIF North and that to for South is reported to be USD 423/MT, CIF, down by USD 10/MT, against last month.

The prime reason for this sharp drop billet offers from the company is decline in global billet offers and fall in Imported scrap offers to Vietnam, following the collapse in the Japanese domestic scrap market last week.

SteelMint learned from industry participants that Japanese origin ferrous scrap offers to Vietnam drop by around USD 15-20/MT towards beginning of this week. Japanese H2 in bulk are presently being offered at USD 250-252/MT CFR Vietnam, against USD 270-272/MT CFR during opening of the previous week.