Vietnam's Formosa Ha Tinh Steel may increase prices for May
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Update time : 2021-03-10 16:13:56
Vietnam's Formosa Ha Tinh Steel Corporation (FHS) might announce its new prices for May delivery this week.
Due to the weak domestic demand market in India, Indian mills exported a lot of hot-rolled coils to Vietnam recently. The prices of Indian hot-rolled coils increased by US$5~10/ton compared to last week.
In addition, China government may cancel export tax rebates and China steel mills continued to raise the prices.
Considering of above factors and high costs of iron ore and coking coal price, it was expected that FHS might increase its hot-rolled coil price by US$20~25/ton this week.
