Vietnamese steel producer Formosa (FHS) has raised its domestic prices for hot-rolled coils (HRC) by approximately $9/t for deliveries in December and January.
The company took this step following a recent price increase by Hoa Phat.
Taking into account the discount for consignments of 20,000 tonnes or more, Formosa’s offer is set at a level equivalent to $543/t CIF, South Vietnam.
It should be noted that last week another Vietnamese steel producer – Hoa Phat Group – raised its prices for hot-rolled coils for the domestic market in November by approximately $10/t compared with the previous month.
According to data from BigMint, the rise in supply costs is taking place against a backdrop of sustained cost pressures on domestic steelmakers, with coking coal prices remaining a key factor for producers. The cost of raw materials is keeping production costs high, setting a price floor for HRC. At the same time, rising demand for steel in the domestic market has provided additional support, given the lack of Indian hot-rolled coil on offer.
It should be noted that the global market for hot-rolled coils in September 2026 showed mixed trends. In the US, prices rose steadily due to limited spot supply and longer lead times. European producers were keen to raise prices, whilst in China the expected seasonal upturn remained uncertain.
Courtesy : https://gmk.center/en
