en.Wedoany.com Reported - Formosa Ha Tinh Steel (FHS) has reduced its hot-rolled coil (HRC) prices for July-August 2026 delivery by approximately $23/ton (equivalent to 605,237 Vietnamese dong/ton) month-on-month. After the adjustment, FHS's SAE1006 flat HRC is priced at around $585/ton (15,396,443 VND/ton) in Ho Chi Minh City, compared to the June sales price of $608/ton (16,001,773 VND/ton).
The price cut comes amid persistently weak market demand, with buyers generally delaying procurement plans. Meanwhile, another major Vietnamese steel producer, Hoa Phat Group, also lowered its non-flat SAE1006 HRC price for July 2026 sales by $13/ton (473,836 VND/ton) month-on-month. After the adjustment, the product is priced at approximately $584/ton (15,373,336 VND/ton) in the southern region, excluding VAT. Hoa Phat's price adjustment was mainly driven by lower regional import offers, exerting downward pressure on domestic pricing. In May, Indian HRC export offers to the region stood at around $583/ton, with reported transactions for approximately 30,000 tons of June-delivery cargoes concluded at $580-585/ton CFR Ho Chi Minh City.
Trading in Vietnam's domestic HRC market remained sluggish this week. Weak downstream demand and expectations of further price declines continued to dampen buyer sentiment, with overall trading activity limited. Buyers generally adopted a wait-and-see approach ahead of the latest monthly price announcements from major domestic producers. Slow order inflows, cautious inventory management by traders, and subdued demand from end-user industries further weakened market sentiment and constrained overall restocking activity.
In terms of steel imports, Vietnam imported 1.45 million tons of steel in March, up 580,000 tons month-on-month from 870,000 tons in February, and also up 220,000 tons year-on-year from 1.23 million tons in March last year. China was the largest supplier, with 60,000 tons imported that month, followed by South Korea (40,000 tons), Australia (30,000 tons), Indonesia (20,000 tons), and India (20,000 tons), with the remainder coming from other countries.
Looking ahead to the coming week, Vietnam's HRC market is expected to remain under pressure. The recent price cuts by Formosa Ha Tinh and Hoa Phat may reinforce buyers' wait-and-see stance, limiting immediate restocking interest. While lower domestic prices could improve competitiveness against imported products, overall trading activity is expected to stay subdued unless there is a substantial recovery in demand from the manufacturing and construction sectors. Market participants will closely monitor domestic order inflows, import offer trends, and downstream consumption patterns for clearer price direction.
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