The Vietnamese market has adopted a cautious stance following a recent drop in Chinese hot rolled coil (HRC) offers. Market sources are attempting to comprehend the price volatility in Chinese HRC offers, according to Kallanish. At the beginning of last week, certain Chinese HRC offers decreased, and they were largely believed to be non-value-added tax (VAT) material. However, as the Shanghai Futures Exchange weakened, some exporters began to offer HRC at lower prices, which has led to a cautious approach in the Vietnamese market.