Vietnamese steelmaker Formosa Ha Tinh Steel has reduced domestic HRC prices for August-September deliveries by around USD 40 per ton, following a similar move by Hoa Phat amid weak market demand.
The producer is now offering SAE1006/SS400 grade HRC at around USD 545 per ton CFR, bringing its prices in line with domestic market levels.
The latest reduction comes after Hoa Phat lowered its domestic HRC prices for August deliveries by approximately USD 34 per ton, with SAE1006/SS400 HRC currently offered at USD 545-550 per ton CFR, depending on the region, excluding VAT.