Major Vietnamese steel mills raised their offer prices for hot-rolled coil in the week to Friday May 14 after major domestic suppliers Formosa Ha Tinh Steel and Hoa Phat Steel increased their offers for local buyers this week.
Formosa Ha Tinh Steel increased its offer for re-rolling grade HRC (non skin pass) for July shipment by $110-120 per tonne to $1,030 per tonne cif for domestic buyers. Sources said that its export offers were $1,100 per tonne fob."There's a slight discount for Hoa Phat's materials, although many buyers are focusing on Formosa's cargoes," a Vietnamese trader told Fastmarkets on Friday.
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