[Vietnam] Government Strengthens Construction Material Coordination to Secure Supply for National Key Projects

[Indonesia] There has been significant movement in Indonesian HRC prices, particularly for CFR Vietnam. Prices are still ranging between 510–520 USD/metric ton CFR Vietnam; however, they may decline as some buyers are attempting to negotiate prices below 510 USD/metric ton CFR Vietnam today, although this does not apply to immediate shipments. However, thanks to strong HRC market fundamentals—where prices rose by about 5 USD/metric ton last week and have shown no signs of declining—prices are expected to remain stable despite pressure from bidders.

Ho Chi Minh City plans to develop four key industry clusters—mechanical engineering, electronics and IT, pharmaceuticals-chemicals-plastics-rubber, and food processing—to strengthen domestic supply chains and improve participation in global value chains by 2030. The city will support digital and green transformation, credit, tax incentives, technology upgrades and production facilities. Steel is an important input across these supply chains, particularly in mechanical engineering, automotive, energy and high-tech manufacturing, which could support long-term demand for industrial and specialised steel. Meanwhile, the focus on green transformation and smart manufacturing is expected to accelerate the adoption and development of green and lower-carbon steel as manufacturers upgrade their production facilities and supply chains.