SteelOrbis has been informed that demand in the local Vietnamese flat steel market is weak following market players' return from the Lunar New Year holiday, while they prefer to wait before concluding deals until the market trend becomes clearer.
Cold rolled coil (CRC) prices in the Vietnamese domestic market are currently in the range of VND 11,700-11,800/kg ($550-555/mt) ex-works, while hot rolled coil (HRC) prices are at VND 10,500-10,600/kg ($493-498/mt) ex-warehouse. Meanwhile, prices of rerolling quality HRC of 2 mm thickness are at VND 10,700-10,800/kg ($503-508/mt) ex-warehouse.
On the other hand, Chinese HRC offers to Vietnam are at $370-375/mt CFR, while Chinese offers for rerolling quality HRC of 2 mm thickness to the same destination are at $380-385/mt CFR.
$1 = VND 21.28