Vietnamese flat steel market trends sideways

Demand has remained weak in the Vietnamese flat steel market, while prices have maintained their previous levels from last month. Accordingly, hot rolled coil (HRC) prices are still standing at $580-590/mt ex-works, while cold rolled coil (CRC) prices are at $720-725/mt ex-works and rerolling quality HRC prices for 2 mm are at $580-590/mt ex-works.
 
On the import side, HRC offers from China to Vietnam have not registered any significant changes in the past month and are still standing at $540/mt CFR, though these offers have failed to attract attention. In addition, ex-South Korea 2 mm rerolling quality HRC prices are now standing at $560/mt CFR, indicating a decline of $10-20/mt as compared to the previous levels, while Japanese HRC offers to the region are at the level of $540/mt CFR.