Major Vietnamese integrated steel producer Formosa Ha Tinh Steel Corp is undercutting international competitors with its new hot-rolled coil (HRC), billet and wire rod offers for February delivery and shipment.
The company's hot-rolled products are being offered at very competitive levels to the domestic and regional markets, at either in line with prices for cargoes from international origins, or even below them.The producer offered February-shipment and delivery SAE1006 HRC at $480 per tonne on a cif basis, down $50 from for its January-shipment cargoes. This is in line with mill cargoes offered by a major Indian exporter in the past week.SS400 and pipemaking-grade HRC were offered at $470 per tonne on a cif basis, down $50 per tonne and $55 per tonne respectively month on month.Higher-grade SPHT3, S235JR, SG255 and SS490 HRC were...