Demand in the Vietnamese flat steel market is still slack, resulting in increased inventories in the local market, while domestic and import offers in Vietnam have remained stable since last week.
Hot rolled coil (HRC) prices in the Vietnamese domestic market stand at $530-535/mt ex-warehouse, while cold rolled coil (CRC) prices are at $650-655/mt ex-works. Meanwhile, rerolling quality HRC of 2 mm thickness is being quoted at $540-545/mt ex-warehouse.
On the other hand, Chinese HRC offers to Vietnam are now at $530-540/mt CFR, while a deal for 4,000 mt of HRC produced by China-based mill Hebei Iron & Steel Group (HBIS) has been concluded at $525/mt CFR. In the meantime, offers for rerolling quality HRC of 2 mm thickness from China can be found in the range of $560-565/mt CFR, while a deal for 5,000 mt of rerolling quality HRC produced by Benxi Steel has been concluded in Vietnam at $538/mt CFR.
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