Imported scrap market: This week, buyers from Vietnam bought about 15,000 tons of scrap. This week , the price of other scraps traded successfully which is mostly above $500 per tonne CFR. The imported scrap market was still expected to rise next week, as the global scrap craze has not cooled despite the chinese steel market plunge. Rising imported scrap is an important factor to keep domestic scrap prices stable as pressure on embryos increases.

Domestic scrap market: This week,  TISCO, Pomina, POSCO, southern steel increased in price. Increasing from 150-200 VND/kg. Scrap yards and scrap enterprises also increased by an average of 200-300 VND /kg in many places. Compared to last week, the average purchase price of the yards increased by about 1.2%. The difference in scrap prices between the North and other regions remains at 1,000-1,500 VND /kg depending on the type that leads to the movement of scrap to the North is exciting and the North's price increase also affected prices in other areas. The current problem with the scrap market next week was that embryos can reduce in price. If the embryo decreased, the risk to domestic scrap prices will increase.

Steel billet export market: This week, the Chinese market plummeted so the price of Tangshan embryos has slipped from 5000 yuan per ton since August 30. This has left Vietnam's export embryo market almost paralyzed. Some factories moved to other markets but the asking price fell quite a lot. For the Chinese market, in the coming week prices are unlikely to recover. Therefore, the export embryo market will be very difficult. Factories from Vietnam may have to choose to stop exports to observe more market developments.

Domestic steel billet market: After moving sideways last week, embryo prices continue to move sideways this week, even by the end of the week trending down. Compared to last week, the embryo still inched slightly, but not significantly. However, the risk of a price drop next week will be enormous. This week, the market also traded little, the parties were cautious due to the export market going down and scrap still rising. At this time, all hopes are focused on the possibility of construction steel increasing prices for the third time in October.

Import HRC market: After both Formosa and Hoa Phat announced HRC prices in December, HRC offers were more numerous, mainly offer prices from China and India. China's HRC prices tended to rise, but sellers took all the risks if export tariffs are imposed. Indian HRC prices, on the other hand, rose at the start of the week but fell at the weekend despite Indian factories raising domestic HRC prices. These developments showed that the HRC market in Vietnam was not returning to expectations.

Domestic HRC market: Slow consumption, weak purchasing and new prices of Formosa, Hoa Phat were the factors that make domestic HRC basically flat all week 42 although steel box, steel has increased in price. HRC businesses, especially in the south, even have to expand their markets to the North to improve consumption. Market expectations may only take place in November.

Construction steel market: Construction steel increased in price simultaneously after Hoa Phat and a series of other factories increased prices. The selling prices of distributors and dealers this week have increased by an average of nearly 2% compared to week 41. Expectations of a simultaneous price increase of the construction steel market in Week 3 are high after Vina Kyoei and Southern steel have officially increased prices. If construction steel increases in unison, many bottlenecks in the steel market can be removed, especially at the price of workpieces.

Pine steel market: This week, the Southern market area increased more after the price of pipes, boxes of Hoa Sen, Nam Kim, East Asia, Phat Nam, Anh Hoa all increased prices. Compared to last week, the price of pipe steel and boxes increased by an average of about 0.5%. There are a number of other factories in the South that have not reported increases, but many dealers have also actively adjusted the increase according to specific orders. Consumption after price adjustment shows signs of improvement. Next week, it is likely that some of the remaining factories will also officially increase.

The difficulties of the steel market have not passed, especially with HRC and embryos but purchasing power, market sentiment improves day by day. Therefore, the difficult period of Vietnam's steel market is likely to end in the last week of October and then a strong recovery in the last two months of the year.