After China’s Baosteel kept its hot-rolled coil (HRC) price unchanged for November, Vietnam’s Formosa Ha Tinh Steel Corporation (FHS) announced to maintain its HRC and wire rod prices yesterday (December 11), with delivery in December.

The recent severe epidemic affected FHS's orders and shipments in the past two months. After the lockout, FHS's shipment increased gradually and many steel mills tried their best to resume production since October 1.

Meanwhile, China government implemented power rationing measures, and the steel market price remained stable.

According to FHS, the recent epidemic become stable gradually. Therefore, FHS decided to hold the price this time.