Vietnamese mill Formosa Ha Tinh’s massive domestic price cut for its new hot rolled coil allocations reflects the poor state of the market, Kallanish notes.
The leading strip producer lowered the price of its new allocations for non-skin passed SAE 1006 by $100/tonne to around $755/t cfr Ho Chi Minh City (HCMC) from its announced prices last month. “The market price is at this level. “And we need orders,” a source close to the company …
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