Overview Of Vienam Steel Market From 6th to 10th sep, 2021

1.Domestic scrap market: The trend of scarcity due to the impact of covid-19 has put pressure on the scrap market for a long time. On the first day of the week, domestic scrap adjusted slightly increasing about 100-200 VND / kg depending on the type.

2.Imported scrap market: Japan's H2 bid to Vietnam increased by 10-20 USD/ton to 480-490 USD/ton CFR. However, there has been no successful transaction due to the price of Vietnamese buyers at only 460-465 USD/ton CFR. One thousand tons of PNS scrap from Canada to Vietnam was pegged at 495 USD/ton CFR.

3.Imported HRC market: Vietnam HRC market has already been a difficult situation, market developments were not following normal rules in a prolonged pandemic situation that caused  the consumption was bottom  and exports don’t  have much advantages. The market recorded a single-day boom on September 8, but Formosa announced a discount.

4.Domestic HRC market:this week,  Some businesses in the North also made slight adjustments  to HRC prices but not in unison, mainly improve consumption with some specific steel marks. The SS400 prices in the North and South are  the same. Although many other steel markets have shown signs of recovery, but the HRC market in the country was still in a quiet state.

5.Export billet market: In the context of China tightening the reduction of steel production, reducing ore, reducing coal and reducing electricity, steel prices are rising significantly. Duong Son embryo prices continued to increase on September 10. Factory embryos have increased to 5200 yuan per ton, equivalent $805 per ton. Therefore, the price of embryos imported into China are likely to increase next week, giving hope to Vietnam's embryo exporters.

6.Domestic steel billet market: After downward corrections in the previous few weeks, the embryo market recorded consecutive gains over the last week. On the first day of the week, the market showed signs of more effervescent  than last week, trading popularly around the mark of 14,100-14,300 VND / kg. After days of continuous slight increases and scarcity of goods,  the official trading day of the weekend, embryos fluctuated around the mark of 14,500-14,600 VND / kg.

7.Construction steel market: The construction steel market has not changed, factories do not adjust prices but sentiment in the construction steel market seems to have improved significantly in the face of the government's new orientations on disease prevention. Some factories have even started receiving new orders.

8.Box steel market: On the trading day of07/09/2021,the box steel market received information that Sendo adjusted to reduce 300 VND / kg, sendo's new price floor is 26,600 VND / kg. Meanwhile, other brands have not changed their prices. Some other large enterprises such as Hoa Sen are still applying output discount policies for September that have been maintained for months. 

Recent Posts