According to market sources, demand in the Vietnamese domestic flat steel market has slowed down due to the ongoing controls on maximum carrying capacities of trucks being carried out by the Ministry of Transportation in Vietnam. The maximum carrying capacity for a truck is 20-22 mt according to Vietnamese laws, but market sources state that before the controls were imposed trucks used to carry 50 mt on average.
Hot rolled coil (HRC) prices in the Vietnamese domestic market stand at VND 12,600-12,700/kg ($598-603/mt) ex-warehouse, while cold rolled coil (CRC) prices are at VND 15,300-15,400/kg ($726-731/mt) ex-works. Meanwhile, prices of rerolling quality HRC of 2 mm thickness are being quoted at VND 13,000-13,150/kg ($617-624/mt) ex-warehouse.
On the other hand, Chinese offers to Vietnam are at $530/mt CFR for HRC, indicating no changes since last week, while Chinese offers for rerolling quality HRC of 2 mm thickness stand at $540-545/mt CFR for, increasing by $5/mt.
$1 = VND 21.06