Poor transaction activity in Vietnamese flat steel market

In the Vietnamese domestic flat steel market, in line with the continuing weakness in demand prices have remained stable as compared to last week.
 
Accordingly, in the Vietnamese domestic flat steel market, local producers' domestic hot rolled coil (HRC) offers are still at VND 16.1-16.3 million/mt ($783-792/mt), while their cold rolled coil (CRC) offers are at VND 17.6 million/mt ($856/mt), both for deliveries to customer.
 
In the meantime, although there some Vietnamese suppliers who are willing to sell HRC as low as VND 15.8-15.9 million/mt ($768-773/mt) in order to ensure cash flow, these suppliers can hardly find customers since buyers are unwilling to supply products from their current inventories which consist of high-cost materials.
 
$1 = VND 20,570