Chinese cold-rolled coil and hot-dipped galvanized coil export prices held steady over the past week.

Import prices for steel slab in Southeast Asia and East Asia continued to decline over the past week.

Buying activity softened further because prices have been falling too fast.

Chinese output of hot metal, crude steel and finished steel all increased in August.

Buyers do not want to book big tonnages before prices hit bottom, they said.

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The move is said to capitalize on the growing demand for steel in Vietnam’s fast-growing northern region.

Subdued construction demand is also a trigger for such cutbacks.