Price levels in Vietnamese flat steel market

Demand in Vietnamese flat steel market is weak. Ex-China flat steel offers to Vietnam have softened, while relations between China and Vietnam have deteriorated since China's deployment of a large oil rig in a disputed area of the South China Sea.
 
Hot rolled coil (HRC) prices in the Vietnamese domestic market have decreased by VND 200/kg since last month and are currently at  VND 12,400-12,450/kg ($587-590/mt) ex-warehouse, while cold rolled coil (CRC) prices have remained unchanged over the same period and are still at VND 15,300-15,400/kg ($725-730/mt) ex-works. Meanwhile, prices of rerolling quality HRC of 2 mm thickness are being quoted at VND 13,000-13,150/kg ($616-623/mt) ex-warehouse.
 
On the other hand, Chinese offers to Vietnam have decreased by $10/mt over the past month and are now at $520-522/mt CFR for HRC, while Chinese offers for rerolling quality HRC of 2 mm thickness have softened by $5/mt over the same period to levels of $540-545/mt CFR, both for June shipments.
 
$1 = VND 21.11