The company has set its hot rolled coil offers for delivery in April and May at the South Vietnamese equivalent of approximately $610/t cfr excluding VAT for unskinned SAE1006 or SS400 grade.
The price to South Vietnam was set at 15,000 VND/kg in VND terms, 630 VND/kg lower than the previous price. Prices for northern and central Vietnam were determined as 14,970 VND/kg.
Weak Chinese steel futures, falling raw material costs and a market slowdown due to the upcoming Lunar New Year (Tet) contributed to the price decline. A mill source in Hanoi said Hoa Phat thinks interest in new HRC allocations is low, with most buyers preparing for the Tet holidays and some mills
having stopped operating. However, some traders stated that they thought the new prices were reasonable and that they could sell.
Hoa Phat increased its prices by approximately $40/ton last month.
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