Formosa lifts domestic HRC prices

Vietnamese steelmaker Formosa has increased domestic prices for HRC scheduled for February-March delivery. The company is offering SAE 1006 and SS400 grades at around USD 504-514 per ton, depending on volumes, up by about USD 5 per ton from previous levels.

The move follows a similar adjustment by Hoa Phat Group, which last week raised domestic HRC prices for February-March shipments by USD 4-5 per ton.

Hoa Phat is currently offering SAE1006/SS400 grade HRC at around USD 510-511 per ton CFR, reflecting a modest firming trend in Vietnam’s flat steel market.