Flat steel prices stable in Vietnam, demand remains slack

Flat steel prices in Vietnam have remained stable since last week, while demand is still slack. Some bookings have been reported despite low demand, particularly for hot rolled coils (HRC) and cold rolled full hard coils.
 
HRC domestic prices in Vietnam have remained unchanged as compared to the previous week at VND 14.5-14.7 million/mt (about $635-640/mt + VAT), while cold rolled coil (CRC) prices in the local Vietnamese market are still at VND 18.6-18.7 million/mt (about $800-805/mt + VAT), both including VAT.
 
On the import side, Chinese HRC offers to Vietnam are still at $625-630/mt CFR, while Russian steelmaker MMK production 2 mm re-rolling HRC offers have declined by about $5-10/mt as compared to last week to $615-620/mt CFR. In the meantime, ex-Europe 1.8 mm HRC offers to Vietnam are at $610/mt CFR, while Japanese offers for cold rolled full hard coils of 0.13 mm and below thickness are standing at $835/mt CFR.