Vietnam to issue incentive package to revive economy

Flat steel demand in Vietnam has started to show a slight improvement in May. In the meantime, the Vietnamese government is expected to issue incentive packages to revive the sluggish economy of the country.
 
Hot rolled coil (HRC) domestic prices in Vietnam are currently standing at VND 15-15.5 million/mt ($660-665/mt + VAT), while cold rolled coil (CRC) prices in the local Vietnamese are still at VND 19-19.1 million/mt ($815-820/mt + VAT), both including VAT.
 
On the import side, Japanese and South Korean HRC offers to Vietnam are at $700-710/mt CFR, while Chinese HRC offers are at $650-660/mt CFR.