Costs on the rise in Vietnamese flat steel market

Market sources report that demand in the Vietnamese flat steel market has remained weak, while prices have been trending sideways over the past two weeks. Meanwhile, the Ministry of Transport in Vietnam is now stricter on controlling the maximum weight to be shipped per truck, resulting in higher transportation costs and quieter market activity.   
 
Hot rolled coil (HRC) prices in the Vietnamese domestic market stand at VND 12,600-12,700/kg ($598-602/mt) ex-warehouse, while cold rolled coil (CRC) prices are at VND 15,300-15,400/kg ($726-731/mt) ex-works, both unchanged week on week on local currency basis. Meanwhile, prices of rerolling quality HRC of 2 mm thickness are being quoted at VND 13,000-13,150/kg ($617-624/mt) ex-warehouse.
 
On the other hand, Chinese offers to Vietnam are at $530/mt CFR for HRC, indicating an increase of $5/mt over the past week, while Chinese offers for rerolling quality HRC of 2 mm thickness have remained stable week on week at $535-540/mt CFR..
 
$1 = VND 21.079