Rising import offers drag Vietnamese flat steel prices up

After upward movements in import flat steel offers, prices in the Vietnamese domestic flat steel market have also moved up. Demand has started to revive in the market amid the increasing prices, while materials purchased previously at low prices are still being sold. In the Vietnamese market, hot rolled coil (HRC) prices are still standing at $580-590/mt ex-works, while cold rolled coil (CRC) prices have increased by $10/mt since last week and are now at $730-735/mt ex-works and prices of rerolling quality HRC for 2 mm have also recorded increases of $10/mt over the same period and are currently standing $590-600/mt ex-works.
 
On the other hand, import offers have continued their upward price movement. Accordingly, HRC offers from China to Vietnam have moved up by $10/mt to $565/mt CFR. In addition, ex-Japan 2 mm rerolling quality HRC prices are now standing at $580/mt CFR, indicating an increase of $20/mt as compared to last week.