Vietnam's Formosa Ha Tinh Steel Corporation (FHS) raised its prices for October and November yesterday, September 10th. The company decided to increase its hot rolled coil price by US$10/ton and wire rod price by US$5/ton.

FHS hiked the price in a row with a total increase of US$15/ton in the past two months. According to understanding, the demand remained weak in Vietnam's market. As the coal and iron ore prices rise, FHS is forced to raise the price in order to offset the high raw material costs. Therefore, FHS's new price is in line with market expectations.