Markets Report: 

• Flats - Vietnam’s import market for commercial-grade hot-rolled coil has seen weak demand throughout November. The slump in pipe-making and construction demand continue to hit the local HRC market and led Vietnamese mills to switch to exports. However, HRC offers from China have been rising on the back of China's policy support.
• Longs - The Southeast Asian rebar import market remained weak throughout November. Market sentiment was bearish with most buyers on the sidelines as they believe the market had not bottomed yet in early-mid November. 
• Semis - The Southeast Asian market saw a strong return of Chinese billet in October, but saw less interest in Chinese material in November. The market is experiencing liquidity and demand issues, with depreciating currencies, rising interest rates, slowing demand, and a looming recession weakening buying activity.
• Raw Materials - Reduced production capacities in the Vietnamese steel industry have stifled demand for scrap imports. Many traders are less active in the market because demand is extremely weak. 

Production:  The operation of steel mills in Southeast Asia suffered a blow in November. Weak demand in the regional market and the sluggishness of the economic environment forced local steel mills to start reducing production to minimise losses.

Mill Data: 

• Hoa Phat Dung Quat
• Formosa Ha Tinh
• Alliance Steel
• PT Dexin Mill
• Posco Krakatau
• Hoa Phat Hai Duong
• Eastern Steel Malaysia

Country Trade Data:

• Singapore
• Indonesia
• Thailand