Flat steel prices keep increasing in Vietnam

While some local prices and import offers have moved upward in the Vietnamese flat steel market, this situation has come as a surprise to the market where a slowdown is observed in terms of buying activities. Accordingly, hot rolled coil (HRC) and cold rolled coil (CRC) prices have remained stable since last week in the domestic market, while prices for rerolling quality 2 mm HRC have risen by $10/mt.
 
HRC prices are still at $620-630/mt ex-works, while cold rolled coil (CRC) prices are at $740-750/mt ex-works. In the meantime, rerolling quality HRC prices for 2 mm are now at $640-650/mt ex-works.
 
On the other hand, HRC offers from China to Vietnam have also moved up by $15/mt as compared to last week to $615-620/mt CFR. Meanwhile, South Korean offers for rerolling quality 2 mm HRC are at $655/mt CFR, while Taiwanese offers are standing at $650/mt CFR.