Vietnam: Hoa Phat reduces HRC prices by $35/t m-o-m for Aug'26

• Lower import offers pressure domestic HRC prices
  
  
• Weak domestic demand limits mills' pricing power
  
  

Vietnamese steel producer Hoa Phat Group has reduced its domestic hot-rolled coil (HRC) (SAE1006, non-skin-passed) prices by around $35/t (VND 920,306/t) m-o-m for August 2026 sales, reflecting weaker regional market fundamentals. Following the revision, HRC prices in southern Vietnam were set at approximately $549/t (VND 14,435,655/t), excluding VAT.

The price reduction follows a decline in imported HRC offer levels across Southeast Asia, increasing competitive pressure on domestic producers. Lower import offers have narrowed the premium of locally produced HRC, prompting Hoa Phat to adjust its prices to remain competitive and support order bookings.

At the same time, weak domestic demand has further weighed on market sentiment, limiting mills' pricing power and reinforcing the need for the price cut.