Vietnamese steelmaker Hoa Phat Group on Dec. 1 reduced its domestic hot-rolled coil offers for January and February shipments by $16/mt month over month, due to sluggish demand in the local market, according to Vietnam-based traders.

The company did not respond to a request for comment on the matter.

The mill has offered SS400 and SAE1006 coils without skin pass at Vietnamese Dong 13,290/kg, or $503/mt, CIF North and Central Vietnam for January and February shipments, the traders said.

The offer for South Vietnam was Dong 13,320/kg, or $505/mt CIF, according to the traders. These prices do not include valueadded tax.

Traders said the latest reduction was anticipated, following the mill’s extension of additional discounts in November to stimulate buying after import offers had fallen by about $20/mt below domestic levels.

“Demand in Vietnam is too weak. I am not sure if this latest offer will induce buying, but I think it is reasonable considering the market sentiment,” a Vietnam-based trader said.

Traders said buyers continued to remain cautious amid limited restocking interest heading into early 2026.

Platts, part of S&P Global Energy, assessed SAE1006 HRC at $482/mt CFR Southeast Asia on Nov. 28, down $3/mt week over week.