The price of hot rolled coil (HRC) in the Vietnamese market has heated up and Hoa Phat Steel is reported to have restarted a blast furnace at the end of December last year.
Since the end of 2022, global demand has gradually recovered with few transactions in Europe, Middle East and Asian countries. In addition, Chinese mills began to increase offers repeatedly in mid-December last year.
Recently, European mills have also raised their prices for January delivery ahead of the New Year holidays. Vietnamese mills are also expected to see HRC prices increase, and Japanese, South Korean and Indian mills may keep up with this increase in the next few days.