Prices stable in Vietnamese flat steel market, demand on low side

Domestic flat steel prices in the Vietnamese market have remained unchanged over the past week, while demand has failed to register improvement. Accordingly, hot rolled coil (HRC) prices are still standing at $580-590/mt ex-works, while cold rolled coil (CRC) prices are at $730-735/mt ex-works and rerolling quality HRC prices for 2 mm are at $590-600/mt ex-works.
 
On the other hand, import offers to Vietnam have also remained stable over the same period. HRC offers from China to Vietnam are still standing at $570-575/mt CFR, while offers for 2 mm rerolling quality HRC from China to the same destination are at $595/mt CFR. In addition, ex-Japan 2 mm rerolling quality HRC prices stand at $580/mt CFR. However, Vietnamese buyers are interested in offers at the price level of $560/mt CFR.