It is said that ex-Russia HRC offers to Vietnam are currently at $550/mt CFR, whereas ex-India origin HRC offers are at $580/mt CFR.
It is mentioned that the offers in question are considered to be on the high side in the Vietnamese domestic flat steel market, which is almost fully satisfied on the supply side due to intensive import deal activity. Additionally, the Vietnamese market has entered into its seasonal sluggishness due to the monsoon rains. Thus, traders in this market are hesitating to buy at the abovementioned price levels.