Formosa Ha Tinh Steel announced a price increase of USD 30/MT for domestic sales in early October. The company's order volume exceeded expectations, which is related to the impact of dumping investigations on China's hot rolled coils (HRC). This has raised downstream producers' concerns over export barriers, indicating cautious purchases from local mills.
Market participants noted that Ha Tinh Steel's new price announcement, coupled with the recovery in the Chinese market, has created positive price trends for domestic sales orders. However, price competition from Chinese producers in the export market will continue, adding to selling pressure.
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