In Vietnam, the government has increased interest rates by one percentage point in order to prevent inflation rate from rising, leading to increased worries concerning a possible impact on domestic steel demand. For the time being, however, demand has remained stable in Vietnam's domestic flat steel market.
SteelOrbis has heard that in the local Vietnamese market prices of hot rolled coil (HRC) have remained unchanged as compared to last week and are now standing at VND 13.5 million/mt ($693/mt), including 10 percent VAT.
While ex-Taiwan HRC offers to Vietnam have been announced at $640/mt CFR for December shipments, it has been reported that some transactions have been concluded at $635/mt CFR this week.
$1 = VND 19,480