Import deals concluded in Vietnamese flat steel market

Market sources report that, following declines in Chinese offers, buyers in the Vietnamese flat steel market have concluded some transactions in the belief that import prices have fallen to bottom levels.
 
Hot rolled coil (HRC) prices in the Vietnamese domestic market, meanwhile, now stand at VND 12,600-12,700/kg ($598-602/mt) ex-warehouse, declining by VND 250/kg ($12/mt) over the past two weeks, while cold rolled coil (CRC) prices are still standing at VND 15,300-15,400/kg ($726-730/mt) ex-works. Meanwhile, rerolling quality HRC of 2 mm thickness are now being quoted at VND 13,000-13,150/kg ($626-631/mt) ex-warehouse, indicating a decrease of VND 200/kg ($9/mt) over the same period.
 
On the other hand, Chinese HRC offers to Vietnam have moved down by $10/mt over the past week to $522-530/mt CFR, while Chinese offers for rerolling quality HRC of 2 mm thickness stand at $540-550/mt CFR for, decreasing by $35/mt over the same period. In the meantime, some deals for about 25,000 mt of Chinese hot rolled sheet (HRS) in total have been concluded in Vietnam at $522-527/mt CFR for shipments in April and May.
 
$1 = VND 21.084