Formosa has reduced HRC prices for September sales

Vietnamese steel producer Formosa (FHS) has cut its prices for hot-rolled coils (HRC) by approximately $8/t for September deliveries, according to BigMint.

The company took this step in the wake of price cuts by Hoa Phat.

Under the new offer, FHS’s finished SAE1006 hot-rolled coils will now be priced at approximately $522/t CFR Ho Chi Minh City for orders exceeding 20,000 t. The price for August sales stood at $530/t.

The price reduction reflects weak domestic demand in the country. As BigMint notes, buyers continue to purchase material only for immediate needs, and market sentiment remains cautious. At the same time, competitive imports continue to put pressure on the pricing policies of Vietnamese steelmakers.

In particular, Indian export offers for HRC to Vietnam fell by $10/t compared with the previous week — to approximately $505/t CFR Ho Chi Minh City. They also remain $19/t lower than July levels.

It should be noted that the global hot-rolled coil market showed mixed trends in July 2026. In the US, prices rose steadily due to limited spot supply and stable demand, whilst in Italy, prices were supported by stricter EU import quotas. Meanwhile, in Western and Southern Europe, the market remained largely stable due to weak consumption and substantial stocks. In China, a seasonal slowdown, sluggish export activity and a build-up of stock led to a fall in prices.