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Less than a week after its previous price reduction for hot-rolled coils, the Vietnamese steelmaker Formosa Ha Tinh Steel has introduced further discounts of $7–$9 per tonne for large-volume orders. S450GD+ZF Hot dip Zinc-Iron alloy coating (ZF) steel,The company’s prior round of price cuts was announced on July 3.
According to reports, Formosa Ha Tinh Steel had already notified certain buyers of the new pricing terms last Thursday, though most market participants only became aware of the development this Monday.
This price adjustment applies to hot-rolled coil orders for the Vietnamese domestic market scheduled for delivery in August and September, and is exclusively available to customers placing large orders of 20,000 tonnes or more.
Following a price reduction in early July, Formosa Ha Tinh Steel’s offer for hot-rolled coils (HRC)—for orders of 20,000 tonnes or more—stood at the equivalent of $538/tonne CIF Southern Vietnam. S450GD+ZF Hot dip Zinc-Iron alloy coating (ZF) steel,With this latest downward adjustment of $7–$9/tonne, the price for such large-volume orders could fall to approximately $529–$531/tonne CIF Southern Vietnam.
However, some traders suggest that the actual discounts offered by the steel mill could be even larger, reaching as much as $12/tonne. A trader based in Northern Vietnam noted that a price reduction of $7–$12/tonne is sufficient to entice major buyers to increase their order volumes.
By last week, market participants had widely anticipated further declines in domestic HRC prices in Vietnam. As buyers held off in expectation of price cuts from the steel mill, procurement activity remained sluggish, with HRC trading coming nearly to a standstill.
These further price concessions reflect the continued weak demand and a "wait-and-see" approach among buyers in the Vietnamese hot-rolled coil (HRC) market. S450GD+ZF Hot dip Zinc-Iron alloy coating (ZF) steel,By offering additional discounts on large-volume orders, steel mills aim to encourage key customers to restock and help stabilize their order books.
Meanwhile, the trend in the U.S. hot-rolled coil market is moving in a different direction. U.S. steelmaker Nucor has raised its spot price for hot-rolled coil by $5 per short ton compared to the previous week, effective July 13, bringing its latest offer to $1,135 per short ton.
