Vietnamese flat steel market remains stable

Flat steel market in Vietnam is still slack and prices have continued to follow a sideways trend.
 
Accordingly, hot rolled coil (HRC) domestic prices in Vietnam have remained unchanged as compared to last week at VND 14.9-15 million/mt ($655-660/mt + VAT), inclusive of VAT. In the meantime, cold rolled coil (CRC) prices in the local Vietnamese market have also remained stable at VND 19-19.1 million/mt ($815-820/mt + VAT), including VAT.
 
On the import side, Chinese suppliers' HRC offers to Vietnam have increased to $650-655/mt CFR, though Vietnamese buyers do not show interest in these offers. Japanese and South Korean HRC offers to the country have continued to trend sideways at $700-710/mt CFR. In the meantime, some HRC offers from Taiwan to Vietnam at $680/mt CFR have turned into transactions.