Prices decrease in local Vietnamese HRC market

SteelOrbis has been informed that hot rolled coil (HRC) prices in the Vietnamese domestic market have moved downwards during the past week after the increases recorded in the previous week, prompting uncertain sentiment in the market. Market players have been cautious about purchasing HRC in the past week due to the prevailing uncertainty and so demand in the market has been weak.
 
Meanwhile, HRC prices in the Vietnamese domestic market have decreased by VND 200/kg ($9/mt) as compared to two weeks ago to VND 9,500-9,600/kg ($436-440/mt) ex-warehouse, while prices of rerolling quality HRC of 2 mm thickness have decreased by VND 300/kg ($14/mt) to VND 9,700-9,800/kg ($445-449/mt) ex-warehouse, with all prices for May delivery.
 
On the other hand, Chinese HRC offers to Vietnam have declined by $15/mt over the past two weeks to $360-370/mt CFR, while Chinese offers for rerolling quality HRC of 2 mm thickness to the same destination have also declined by $15/mt over the same period to $370-375/mt CFR, both for July shipment.
 
$1 = VND 21.81