Overview Of Vienam Steel Market From 4th Jan to 7th Jan, 2022

Import scrap market: The trend of recovery has emerged after prices in many countries rose again. The market had more offer and  more deals this week. As expected, the recovery for the import market, especially  construction steel, embryos and domestic scraps were still increasing.

Domestic scrap market: Factories continued to rise this week, mostly south. But in north factories, the scrapyard also increased slightly, the gap pushed the collection of scrap to the North, putting pressure on the southern region and pushing up the price of embryos. The market was still gaining momentum despite  the coming Tet but there need to be cautious because scrap often fluctuates quite quickly.

Export steel billet market: Prices rose again but trading has not changed. Factories would remain observing and focusing more on the domestic market.

Domestic steel billet market: Prices were still rising slightly, embryos were rising due to increased scrap and scarcity. At the same time, construction steel increased in late December and early January. With the current developments, the embryo still has room to inch slightly, leading to an increase in scrap and construction steel.

Imported HRC Market: This week's offering exploded with countless offers from different markets and a variety of steels. Overall, though, prices were still falling. Some successful transactions have been below $750 a tonne of CFR, putting downward pressure on domestic prices. The global HRC market hasn’t  cut the short-term downward trend.

Domestic HRC market: Prices have fallen in the  early week and many places continue to fall over the weekend due to volatile futures prices, falling imports, and domestic consumption not improving. Next week, the price would likely move sideways to wait for formosa's new price, Hoa Phat.

Construction steel market: A series of factories have increased prices this week, firstly recal steel increasing by 200 VND /kg, then increasing both recal and coil steel. Factories such as Hoa Phat previously increased by 150 VND /kg of coiled steel increased by 50 VND /kg today. Rising construction steel prices boosted the rising outlook for workpieces and scrap.

Steel pipe and box market: Prices continued to plunge, especially for big brands, down from 700-1,000 VND /kg. The market was still under downward pressure when HRC prices fell, consumption was less good.

The first week of 2022 was not much different from the last week of 2021 when scrap, billet, construction steel increased and HRC, steel pipe, box, steel decreased. Different from before ,construction steel increased steadily and increased in bulk, which opened up clearer opportunities for workpieces and scrap. As for HRC, steel pipes, boxes, the discount was inevitable at this time but it was also the only solution to revive the market.

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