Import flat steel prices soften in Vietnam, domestic prices stable

 In the past week, flat steel import offers in the Vietnamese market have moved downwards in line with lower iron ore prices and market players are currently adopting a wait-and-see stance. With the Spring Festival drawing closer, some mills have started to suspend their production. Under these circumstances, domestic flat steel prices in Vietnam have remained stable.
 
Accordingly, in the local Vietnamese market the prices of domestic production hot rolled coil (HRC) 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 stable at $640-650/mt ex-works.
 
On the other hand, HRC offers from China to Vietnam have decreased by $10/mt week on week to $605-610/mt CFR. Meanwhile, South Korean offers for rerolling quality 2 mm HRC for Vietnam are at $630-640/mt CFR - down $15-25/mt week on week, while Taiwanese offers are stable at $650/mt CFR.