Flat steel demand in the Vietnamese domestic market has remained silent, with hot rolled coil (HRC) prices continuing to soften as in previous weeks.
Accordingly, HRC domestic prices have this week declined to VND 14.9-15 million/mt ($655-660/mt + VAT), inclusive of VAT, from last week's price level of VND 15.2 million/mt. In the meantime, cold rolled coil (CRC) prices in the local Vietnamese market have remained unchanged at VND 19-19.1 million/mt ($815-820/mt + VAT), including VAT.
On the import side, Chinese HRC offers to Vietnam have shown no change at $640-645/mt CFR, while Japanese and South Korean HRC offers to the country have been trending sideways at $700-710/mt CFR.
$1 = VND 20,830