Demand improves in Vietnamese flat steel market

In line with the improved demand in the Vietnamese flat steel market, prices have continued to trend up. Accordingly, hot rolled coil (HRC) prices have increased by $10/mt since last week and are now at $600-610/mt ex-works, while cold rolled coil (CRC) prices are unchanged at $730-735/mt ex-works. In the meantime, rerolling quality HRC prices for 2 mm are currently at $610-620/mt ex-works, indicating an increase of $10/mt over the same period.
 
On the other hand, HRC offers from China to Vietnam have moved up by $10/mt as compared to the last week to $580-585/mt CFR, while Japanese offers for 2 mm rerolling quality HRC to the same destination have remained stable at $600-610/mt CFR, though ex-Japan offers have failed to attract buyers' attention, as the offers are considered to be on the high side.