With the down price trend due to weak demand in all markets, Formosa Ha Tinh has adjusted new price for December shipment by a decrease of 20 usd/ton.
- HRC SAE1006 skin-passed: 460 usd/ton CIF (480 usd/ton CIF previously)
- HRC SS400 and pipe making grade: 450 usd/ton CIF (470 usd/ton CIF previously)
- HRC SPHT3, S235JR, SG255 and SS490: 480 usd/ton CIF (500 usd/ton CIF previously)
- HRC non skin-passed band: 455 usd/ton CIF (475 usd/ton CIF previously)
In the same time, price offer for wire rod is also down by 16 usd/ton for cargoes to be shipped and delivered in December.
- Wire rod grade 2 mesh quality mild steel: 482 usd/ton CIF (498 usd/ton CIF previously)
- Wire rod mesh quality: 500 usd/ton CIF (516 usd/ton CIF previously)
- Wire rod general cold work quality: 510 usd/ton CIF (526 usd/ton CIF previously)
However, this price level seems to be still far from other steelmakers offering for December delivery. The Vietnam’s HRC market is bidding at 415 usd/ton CFR for small tonnages for Indian HRC origin. While Chinese importers are reluctant to pay higher than 410 usd/ton CFR China for Indian HRC.
For Asean market, construction activities in last quarter of the year is quite slow. In this situation, price policy from Formosa would be adjusted soon to meet the market level.
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