Vietnam's Formosa Ha Tinh Steel Corporation (FHS) has raised its October wire rod prices by US$10/ton, the first price increase in nine months and lifting the price of low-carbon wire rod from a four-and-a-half-year low.

The adjustment was driven by several factors, including clearer US tariff policies, an upward trend in Chinese steel prices, and rising raw material costs.

With the price adjustment, Ha Tinh's prices are now higher than some imports from countries such as Indonesia and Malaysia. This move was expected to support the market prices of wire rods in Southeast Asia and Taiwan, as other regional producers are also raising their prices.