Vietnamese flat steel demand lacks strength

In the Vietnamese flat steel market, demand lacks strength due to government's tight monetary policy.
 
In Vietnam, local mills' domestic hot rolled coil (HRC) prices are standing at VND 15.6-15.7 million/mt ($750-755/mt) ex-works, while their cold rolled coil (CRC) prices are at VND 18.8-18.9 million/mt ($904-909/mt) ex-works, both including VAT.
 
In the meantime, Japanese steel producers' flat steel offers to Vietnam have increased lately. Accordingly, Japanese mills' 2 mm HRC prices are standing at $700/mt CFR, though Vietnamese buyers are not showing interest in offers at this price level.
 
On the other hand, Chinese HRC offers to Vietnam have not shown any significant changes lately, with offers for 3 mm HRC at $635-655/mt CFR.
 
$1 = VND 20,800