- Domestic scrap market: The trend of scarcity due to the effects of covid-19 which has put pressure on the scrap market for a long time. Price scrap was flat and only slightly adjusted on the official trading day at weekend
- Imported scrap market: H2 price from Japan has decreased by about 5-10 USD / ton, Moreover, freight tended to increase so that it was hard for the import market to attract many factories.
- Import HRC market: In this early week, the HRC market imported into Vietnam recorded an explosion in offers, Chinese factories were still showing their determination to maintain market share in the Vietnam market as they continued to bid for all kinds. Russia and India's offer was very competitive around the $900 per tonne CFR mark depending on the factory, but HRC goods from China have many competitive advantages.
- Domestic HRC market: Last week, witnessing the tightening of Ho Chi Minh City and Hanoi prolonging the gap made the domestic HRC market more difficult. But the downward adjustment at the moment was also not working. If the pandemic situation does not improve, prices will continue to move sideways.
- Export steel billet market: The trend of unsustainable price increasing in China and the strengthening of disease control prolonged customs clearance, increased more costs and risks for businesses than before. Therefore, many businesses are careful about export orders, therefore domestic embryo prices were under pressure
- Domestic steel billetmarket: From the beginning of August to now, although the domestic embryo market adjusted to increase and decrease alternately, the downward momentum is being established. At the beginning of the week, the price of medium-frequency embryos tended to decrease slightly, trading around the mark of 14,200-14,400 VND / kg. Domestic embryos continued to be adjusted slightly to VND 100/kg over the weekend due to consumption pressures and the quietness in the export market, which hovered at VND14,100-14,300/kg.
- Construction steel market: The construction steel market has not changed further, factories didn’t adjust prices and even the consumption continued to down compared to previous weeks. With preliminary data on plant consumption have already released, the lowest quantity of construction steel consumption since the beginning of the year was fallen on August.
- Box steel market: Domestic steel pipe prices are basically flat during the week and they will be difficult to fluctuate in the near future until the separation measures in Ho Chi Minh City and some southern provinces are strengthened, as well as prolonging the gap period in Hanoi. Currently, the price gap between box pipe steel brands has been significantly narrowed in the past
Recent Posts
