In the Vietnamese flat steel market, importers are adopting a wait-and-see stance as monsoon rains are approaching and demand has remained slack. Some Vietnamese importers are thus seeking to postpone their new bookings to subsequent months amid slower market activity and increasing stock levels.
While domestic flat steel quotations had remained stable last week, offers have indicated a decrease this week. Accordingly, hot rolled coil (HRC) prices in the Vietnamese domestic market are currently standing at $640-655/mt ex-works, while cold rolled coil (CRC) prices are at $810-815/mt ex-works.
On the import side, Japanese and Taiwanese HRC offers to Vietnam are still at $700-710/mt CFR, while Chinese HRC offers have decreased by $15-20/mt and are currently at $645/mt CFR.