Vietnam’s leading steel producer, Hoa Phat, has raised domestic prices for HRC scheduled for December delivery.
The company is now offering HRC in SAE 1006 and SS400 grades to domestic buyers at around USD 548-550 per ton, an increase of USD 27 per ton compared to last month. The sharp rise in steel prices in China is one of the major factors behind the recent price increase.
With a crude steel capacity of 8.5 mln tons per year, Hoa Phat Group holds the title of the largest steel producer in Southeast Asia. The group is actively advancing the Hoa Phat Dung Quat 2 Iron and Steel Production Complex project, with a planned capacity of 5.6 mln tons of high-quality HRC per year. Upon its completion in 2025, Hoa Phat’s steel production capacity will soar to 14.6 mln tons per year, with HRC alone accounting for 8.6 mln tons per year.
