HRC import offers to Vietnam rise, booking activity remains poor

In the Vietnamese flat steel market, hot rolled coil (HRC) prices have remained unchanged, while cold rolled coil (CRC) prices have risen by VND 100,000/mt ($5/mt) as compared to last week. Accordingly, local HRC prices in Vietnam are still standing at VND 15.6-15.7 million/mt ($754-759/mt), while CRC prices have increased to VND 18.9-19 million/mt ($914-918/mt). All domestic prices include VAT.
 
On the import side, Chinese HRC offers to Vietnam have increased slightly to $640-660/mt CFR. In the meantime, Japanese HRC import offers, which were at $700/mt CFR last week but failed to attract the attention of Vietnamese buyers, have risen to $710/mt CFR despite low demand.
 
$1 = VND 20,690