Vietnamese HRC market rises despite low demand

Flat steel demand in the Vietnamese market has remained weak, while hot rolled coil (HRC) and rerolling quality HRC prices have increased by $10/mt over the last week. Accordingly, HRC prices are now standing at $590-600/mt ex-works, while cold rolled coil (CRC) prices are unchanged at $730-735/mt ex-works and rerolling quality HRC prices for 2 mm are now at $600-610/mt ex-works.
 
On the other hand, HRC offers from China to Vietnam are unchanged at $570-575/mt CFR, while Japanese offers for 2 mm rerolling quality HRC to the same destination have moved up by $20-30/mt over the same period and are now at $600-610/mt CFR. In addition, although Taiwan no longer gives offers for this product, its latest offer level to Vietnam was at $580/mt CFR.