Vietnamese hot rolled coil (HRC) producer Hoa Phat Dung Quat has announced a reduction in its monthly domestic prices due to weaker market sentiment, according to Kallanish.

Price Adjustments
On December 2, Hoa Phat set its prices for February/March shipments of non-skin-passed SAE1006 or SS400 grade HRC at approximately $527/tonne CFR southern Vietnam, excluding VAT. This marks a decline from last month’s official price of $534/tonne CFR. In Vietnamese Dong (VND) terms, the price dropped by 220 VND/kg to 13,370 VND/kg for southern Vietnam, with quotes for northern and central regions now at 13,340 VND/kg CFR.

Market Context
While the price reduction is modest, it signals a sluggish market, particularly in the country’s coated product export segment, according to a Hanoi-based trader. Additionally, uncertainty surrounding an anti-dumping investigation on Chinese HRC imports has disrupted market dynamics. Many buyers have been stockpiling Chinese imports, and service centers are shifting to wider-width Chinese Q235 and Q345 grades, which are not included in the anti-dumping probe.

Anti-Dumping Investigation
Customers are anticipating results from the anti-dumping case, hoping for a resolution before the Lunar New Year or early February. If duties are imposed, local producers like Hoa Phat, Formosa, and certain South Korean mills are expected to benefit as substitutes for Chinese HRC imports. The investigation also targets HRC imports originating from India.

Outlook
The market remains uncertain as buyers and suppliers await the outcome of the anti-dumping case. A finalized decision could reshape Vietnam’s HRC supply chain, providing opportunities for domestic and regional producers to capture greater market share.