Formosa Ha Tinh Steel Corporation (FHS), a steel plant in Vietnam established by Taiwanese company Formosa Plastics, has reduced its hot rolled coil price by US$25 per ton.
In addition, the company reduced the plant's normal hot rolling output by 20%. Furthermore, production restrictions were imposed in Tangshan, China, two months ahead of schedule. As a result, the steel price in Asia has recovered and is now increasing.
If imported steel prices rise, Vietnamese Formosa Ha Tinh will have the option to raise its prices in September.
Comments
No comment yet.