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Vietnamese steelmaker Formosa Ha Tinh Steel has increased its domestic HRC prices for October-November delivery, with SAE1006 and SS400 grades now offered at around USD 540-550 per ton CIF Vietnam, depending on order volume.
Previously, Formosa was offering HRC at around USD 525 per ton for large orders of 20,000 tons or more. Hoa Phat has also raised its HRC price for October delivery by USD 9 per ton to around USD 545 per ton CIF Vietnam.
Formosa’s latest price revision comes after the temporary shutdown of one blast furnace following a technical incident involving a hot blast stove last week. Local media reported that Formosa’s blast furnace No. 1 has resumed production at around 50pct of capacity and its operating rate is expected to increase gradually.