[SMM Steel] Vietnam Steel Mills Further Cut HRC Prices Amid Weak Demand

Published: Aug 10, 2026 17:37 (GMT+8)

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[Vietnam] Vietnam’s domestic steel market came under further pressure as weak demand prompted major mills to lower prices. Formosa Hà Tĩnh (FHS) cut its HRC price by around 8 USD/tonne for September 2026 delivery, with finished SAE1006 HRC now priced at approximately 522 USD/tonne CFR Ho Chi Minh City for orders exceeding 20,000 tonnes, down from 530 USD/tonne for August sales following Hòa Phát’s price reduction earlier this month. Competitive imports from countries like India are adding further pressure on domestic producers, indicating continued downside risks for Vietnam’s HRC market. Meanwhile, construction steel prices remained stable, with rebar hovering at around 533 USD/tonne, protected by trade-remedy measures, tighter technical barriers and project linked sales

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