Vietnam: Formosa Ha Tinh raises HRC offers by $58/t m-o-m for Jun'26 sales

• HRC prices rise on stronger global sentiment
  
  
• Hoa Phat raises HRC prices by $50/t for June
  
  

A major Vietnamese steel producer, Formosa Ha Tinh (FHS), has raised its hot-rolled coil (HRC) prices by around $58/t (1,526,203 VND/t) for shipments in June-July 2026. Post adjustment, FHS's HRC (SAE1006, skin-passed) is now priced at approximately $608/t (16,027,056 VND/t) Ho Chi Minh City (HCMC) compared with $550/t (14,447,462 VND/t) in May 2026.

Market updates

1. Global steel majors keep HRC prices high: Major Vietnamese steel producer, Hoa Phat Group, has increased its HRC (SAE1006, non-skin-passed) prices by $50/t (VND 1,313,243/t) m-o-m for June sales. Following the revision, prices in the southern region stood at around $597/t (VND 15,682,063/t), excluding VAT. The price hike is primarily driven by rising import prices and higher raw material costs.

Furthermore, Baosteel, the world's leading steel manufacturer, has raised its HRC prices by RMB 100/t ($15/t) m-o-m for June sales. The increase follows a rise in SHFE HRC futures (Oct'26 contracts), which surged by RMB 210/t ($31/t) m-o-m to RMB 3,485/t ($513/t) as of 8 May. Meanwhile, hot-dip galvanised (HDGI) prices were also increased by RMB 100/t ($15/t) m-o-m.

2. Domestic market overview: Vietnam's domestic HRC prices increased amid a rise in import offer prices, as higher overseas quotations pushed up local market sentiment. Market participants noted that costlier imports supported domestic mills in raising prices despite cautious buying activity. Additionally, price rise is supported by rising input costs, particularly iron ore, coking coal, and billet prices. At the same time, the recent rebound in China's steel market improved regional sentiment, giving mills greater confidence to push up offers.

Outlook

Vietnam's HRC market is expected to remain firm in the near term, supported by elevated import offers, stronger raw material costs, and continued price hikes from global steelmakers. However, buyers may stay cautious and limit purchases due to rapidly rising prices and uncertain downstream demand.