Overview Of Vienam Steel Market from 28th June to 4th July

1. Scrap import market: Prices for import scrap in Vietnam expectedly no increased, driven by limited supply and sufficient demand in the country on the back of favourable situation in the construction sector. Offers for Japanese scrap added over 500USD/ton. This week, Quotes from the US for luxury scarp were at around 620USD/ton CFR, PNS at 515-520 USD/ton CFR.

2. Imported HRC market: Offers for India at 950-980USD/ton CFR delivery by the end of July or early August 2021. Offers for China is egotiate a lower price at 900USD/ton CFR in Ho Chi Minh City , Phu My or Hai Phong. The highlight in the market this week is the offer from Russia, all attention is on the offer from this country after the news that the government imposed export tax from August 1st 2021.This week, Vietnamese trader offers HRC from Russia even fell below 900USD/ton while last week's offer was 1100/ton.


3. Domestic HRC market: the trade is quiet, Domestic HRC down  200 to 300 VND/kg on June 30th  but could not change the quiet atmosphere. The market needs other conditions to prosper again, especially disease control in the southern region. Domestic consumption is falling sharply in June.

4. Export billet market: In the billet export market, billet prices tend to increase slightly from 5-10 USD/ton. On June 29th, billet prices around 665-670 USD/ton FOB and Successful transaction for shipment to China about 665-670 USD/ton CFR. In the weekend, on July 2nd, a Vietnamese trader export at 40.000-50.000 Tons Billet to China and Philippines, were mainly coming at 660-675 USD/ton CFR, delivery in July or August 2021.

5. Domestic billet market: Buyer activity was generally slow in the Domestic billet market .Offer for billet decreased by 100-200 VND/kg compared to the previous week. The billet fluctuates around 13.500-13.800đ/kg.  The price of billet continued to slightly decrease 100 VND / kg on June 30 and then stabilized until the end of the week.

6. Construction Steel market: at the beginning of the July, the construction steel market is decreased.  The market needs other conditions to prosper again, especially disease control in the southern region. Following several weeks of cooling down gradually, the construction steel market flattened and hope to see slightly better activity next week

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