Formosa Ha Tinh Steel might increase prices for May
Time:Wed, 15 Mar 2023 09:00:30 +0800
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Vietnam’s Formosa Ha Tinh Steel Corporation (FHS) hiked its hot-rolled steel and wire rod price for April by US$62/ton and US$50/ton, respectively. According to FHS, Vietnam's local demand still didn't have obvious increases but export performance for Europe was good.
European mills' steel plate price has risen by US$180/ton since early of 2023. The second quarter is a traditional peak season, so an obvious recovery in the steel market is expected.
The current iron ore and coal prices are at high levels. China's Baosteel also hiked its price for April. Affected by the above factors, steel prices were supportive in Asia. It was expected that FHS will be very likely to increase the prices for May.
