Slower transaction activity in Vietnamese flat steel market

SteelOrbis has been informed that over the past month in the local Vietnamese flat steel market demand has remained weak and transaction activities have slowed down, while prices have declined sharply.
 
Cold rolled coil (CRC) prices in the Vietnamese domestic market have decreased by VND 350/kg ($17/mt) over the past month and are currently in the range of VND 14,800-15,000/kg ($698-707/mt) ex-works, while hot rolled coil (HRC) prices have declined by VND 150/kg ($7/mt) over the same period to VND 12,000-12,150/kg ($566-573/mt) ex-warehouse. Meanwhile, prices of rerolling quality HRC of 2 mm thickness have decreased by VND 350/kg ($17/mt) in the given period to VND 12,300-12,400/kg ($580-585/mt) ex-warehouse.
 
On the other hand, Chinese HRC offers to Vietnam have declined by $45/mt during the past month to the range of $485-487/mt CFR, while Chinese offers for rerolling quality HRC of 2 mm thickness have decreased by $25/mt over the same period to $515-520/mt CFR.
 
$1 = VND 21.21