Formosa Ha Tinh Steel confirmed that an equipment malfunction at hot air furnace No. 3 within blast furnace No. 1 triggered a minor fire on September 4 in Vung Ang Economic Zone. Internal emergency teams extinguished the blaze within 30 minutes, resulting in zero casualties.

Repair operations are expected to finish within 48 hours without disrupting overall business activities, though industry estimates project a 25% drop in regional blast furnace capacity, totaling 250,000 to 300,000 tons.

This supply deceleration influenced market price sentiment, aligning with Hoa Phat releasing its October hot-rolled quotations. Meanwhile, Indonesian exporters reportedly adjusted their Vietnam delivery offers upward in response to the temporary production constraint.