Hoa Phat cuts domestic HRC prices on weak demand

The brief

Vietnamese steelmaker Hoa Phat has reduced domestic HRC prices for August deliveries amid weak market demand and seasonal pressure. The producer lowered prices by around USD 34 per ton compared with the previous month’s offers. Non-skinpass SAE1006/SS400 grade HRC is now offered at USD 545-550 per ton CFR, depending on the region, excluding VAT. Market [...]