After Vietnamese Formosa Ha Tinh Steel Corporation increased its hot rolled steel prices by US$62/t, Hoa Phat also increased its prices by approximately US$40-50/tonne for April. With this increase, prices for hot rolled steel rose by 100 USD/t in total in two months.
The price difference between Ha Tinh Steel and Hoa Phat is currently only estimated at US$ 15-20/ton. Backed by costs, Ha Tinh Steel is expected to further increase its May prices in the middle of this month.
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