Imported scrap market:

Due to the continuous high prices of H2 in Japan, which have surpassed the peak levels since 2008, the export prices have also increased significantly. As a result, Vietnamese buyers have not traded scrap from Japan this week and have mainly purchased scrap from the United States. However, regardless of the market chosen for trading, the prices of imported scrap continue to rise, not only in Vietnam but also in various other importing markets in Asia.

 Domestic scrap market:

The upward trend became clearer at the end of the week as the prices of imported scrap increased, the prices of construction steel are expected to rise next week, and billet prices have shifted from a decrease to an increase. From the end of this week and the beginning of next week, domestic scrap prices will increase moderately across all markets, although the magnitude of the increase is not significant.lll

 Exported steel billet market:

The prices of Duong Son billets have gradually rebounded, and market signals have also improved, leading to more positive price quotations, even though China has not yet imported billets. Vietnamese sellers are trying to find ways to export billets and expect supply and demand in the Chinese market to return to normal, especially after the pandemic.

 Domestic steel billet market:

The market reversed at the end of the week after remaining flat and then declining. The resurgence of billet prices includes positive signs in the export market, increasing prices of construction steel, and high scrap prices. The trend for the coming week will be a slight increase, and trading will be more active.

 Imported HRC market:

After fluctuations, offer prices have gradually increased, although demand has not risen. Currently, HRC could become the main export item for China in the second quarter, so there is a possibility that the supply to the Vietnamese market may be scarce, affecting prices and transactions.

 Domestic HRC market:

Prices have decreased slightly due to consumption pressure and weak sentiment. However, positive trends appeared more clearly at the end of the week, and there is a high probability of a market recovery in the coming week.

 Construction steel market:

Southern steel mills such as Pomina and Vina Kyoei will increase prices by 300 VND/kg on 7th April. This news comes in a timely manner with the high pressure on consumption and the pressure on billets and scrap, which have all increased. There is a high possibility that northern factories will also increase prices next week, even before the southern mills.

 Pipe and box steel market:

The upward trend continues to be slow and is concentrated more in the southern region. Market differentiation is becoming more evident as Hoa Sen continuously raises prices and maintains a significant price gap compared to many other brands. This gap may widen further next week.

 Although the majority of the market remains flat or even experiences slight declines in some items, comprehensive upward prospects are gradually forming, and there is a possibility of different levels of increases occurring in the coming week. After a period of stagnation, the market's return to growth is understandable, but the main impetus for April is likely to come from the international market, especially the recovery in China. The forecast for steel prices in China suggests a potential heat-up, and this heat is likely to spread to the Vietnamese steel market.

 Source: giathepton.com