Vietnam's Formosa Ha Tinh Steel Corporation (FHS) announced its new domestic prices for February on January 6th. Among them, the price of hot rolled steel was increased by US$40/tonne, while the price of wire rods was increased by US$23/ton. The delivery date will basically be between February and March.
FHS said export demand was not strong. Therefore, the company did not increase the price of the wire rod much. Other Asian steel mills affected by the price increase from China and FHS may take action to increase prices.
Coal and iron ore prices all remained at a high level. FHS paid attention to controlling the order quantity to avoid material loss.