Import prices increase in Vietnamese flat steel market

Demand has remained stagnant in the Vietnamese flat steel market due to the fluctuation in prices, while buyers have slowed their purchases in the belief that prices will trend down.
 
In the Vietnamese domestic market, hot rolled coil (HRC) prices are at $620-630/mt ex-works, while cold rolled coil (CRC) prices stand at $740-750/mt ex-works. In the meantime, prices for rerolling quality 2 mm HRC are being quoted at $640-650/mt ex-works.
 
On the other hand, HRC offers from China to Vietnam have moved up by $20/mt as compared to one month ago to $625-630/mt CFR and it is heard that some deals have been concluded at the low end of this range. Meanwhile, South Korean and Japanese offers for rerolling quality HRC prices for 2 mm are at $670-685/mt CFR, indicating an increase of $40-45/mt over the same period, though struggling to find buyers.