Inventory levels on the high side in Vietnamese flat steel market

Amid a stable price trend for local and import offers since last week, demand has remained weak in the Vietnamese flat steel market as buyers have adopted a wait-and-see stance. In the meantime, inventory levels are on the high side in contrast to the poor demand.
 
In the Vietnamese domestic market, hot rolled coil (HRC) prices are still at $585-590/mt ex-warehouse, while cold rolled coil (CRC) prices stand at $720-730/mt ex-warehouse. In the meantime, prices for rerolling quality 2 mm HRC are still being quoted at $600-605/mt ex-warehouse.
 
On the other hand, HRC offers from China to Vietnam are still at $590/mt CFR. Meanwhile, Chinese offer prices for rerolling quality 2 mm HRC are at $590-600/mt CFR, and some deals have been concluded at $590-595/mt CFR.