There are many factors leading to the steel price improvement in Asia since the early June which are the upturn of domestic sales after the pandemic, the cut-off production of upstream steel makers and especially the effect of price highness in China. As usual, every third week of the month, Formosa Ha Tinh released the latest HRC price offer to the market.
Offer to July/August 2020 shipment has been increased by 20 usd:
- HRC SAE1006 HC/SPHC/SPHT1: 455 – 460 usd/ton CIF FO
- HRC SAE1006 HB/SHPC/SPHT1/SS400: 450 – 455 usd/ton CIF FO
- HRC SPHT3, S235JR, SG255 and SS490: 475 – 480 usd/ton CIF FO
This is the announcement to the market; however, this round Formosa will still follow mill-by-mill-offers. Price is fluctuating from 446 – 455 usd/ton CIF FO depending on quantity and allocation.
The gap between HRC domestic price and import price becomes very close. Latest HRC price offers to Vietnam: Japan offers at 455 – 460 usd/ton CFR, India offers at 440 usd/ ton CFR and China sold 20k SAE at 445 usd/ton CFR.
Wire rod price has been up by more 15 usd/ton:
- GCWQ: $506/MT CIF LO
- MQ: $496/MT CIF LO
- MQ2: $486/MT CIF LO
Billet also has been increased by more 9 usd/ton:
- SD295: 9,268 ($397) CIF LO Hai Phong
- SD390: 9,448 ($405) CIF LO Hai Phong
To Hochiminh extra 5 usd/ton
In middleMay to early June, with huge demand on billet in China, it is supposed that almost Vietnamese billet makers have fulfilled billet capacity upto October shipment.
If you have concern about high quality Vietnamese steel, especially coated steel products, please contact us:
Phone/Whatsapp: 0084 78 324 3888