Formosa Ha Tinh Steel is expected to increase its wire rod prices for June and July, driven by persistent cost pressures. Iron ore prices recently reached a 22-month high of US$112.6 per ton, and energy and freight expenses also rose. This trend follows recent moves by Hoa Phat, which raised its hot-rolled coil prices by US$50 for June.

In spite of stagnant demand from the downstream screw industry, firm export offers from China provide market support. Market participants predict a price hike of approximately US$30, exceeding the previous US$25 adjustment.

This upcoming change will likely push low-carbon wire rod prices past the US$600 threshold, representing a significant peak in recent years as the mill struggles to maintain margins.