Market activity in Vietnam is on a stable path, as demand is slow under the impact of adverse weather conditions and buyers are hesitant on the back of high steel prices. As previously reported by SteelOrbis, the government is carrying out an investigation into the high price levels and steelmaking costs of the Vietnamese producers. Sources indicate that the government might be considering bringing down import duties on billets and finished products, depending on the outcome of this investigation.
The latest accepted market price for imports of 20MnSi billet is around $525/mt CFR FO Hai Phong port; however, the latest offers to this market might be slightly higher than this level. Meanwhile, the local billet price level is approx. $565/mt ex-works.