Vietnam's Formosa Ha Tinh Steel Corporation (FHS) will announce its domestic prices for February soon. Currently, iron ore and coal prices keep going up. Meanwhile, China's leading steel mills all increased the wire rod prices for January.

Besides, although the demand from Vietnam's downstream fastener industry is weak, FHS might still try to increase the price in order to offset the high raw material cost. It was expected that the company would increase the price by US$20/ton for February. If so, FHS has increased the prices for three consecutive months.