SteelOrbis has been informed that hot rolled coil (HRC) prices in the Vietnamese domestic market have moved downwards for the second consecutive month due to decreasing Chinese HRC offers amid weak demand.
Accordingly, HRC prices in the Vietnamese domestic market have decreased by VND 200/kg ($9/mt) over the past month to VND 9,300-9,400/kg ($427-431/mt) ex-warehouse, while prices of rerolling quality HRC of 2 mm thickness have decreased by VND 200/kg ($9/mt) to VND 9,500-9,600/kg ($436-440/mt) ex-warehouse, with all prices for June delivery.
On the other hand, Chinese HRC offers to Vietnam have declined by $10/mt over the past month to $350-355/mt CFR, while Chinese offers for rerolling quality HRC of 2 mm thickness to the same destination have also declined by $5/mt over the same period to $365-370/mt CFR, both for July shipment.
$1 = VND 21.80