Vietnamese steelmaker Hoa Phat Group has increased domestic HRC prices for February and March deliveries.
The company is offering SAE1006/SS400 grade HRC at around USD 510-511 per ton CFR, up USD 4-5 per ton from prices announced in December.
Market sources attributed the increase to changes in China’s export policy, particularly the introduction of steel export licenses, which are expected to limit Chinese HRC inflows into Vietnam and curb non-VAT offers. However, the price hike remained modest amid subdued domestic demand.
