Import scrap market: The slight uptrend has gradually returned as the world's largest import market, Turkey, rose $50-70 per tonne this week. Therefore, it is the first time that zoffering the price of scrap in the US and THE EU back to over 400 USD / ton of CFR Vietnam after nearly 1 month. High-end asking prices in many other markets have also increased, with the prospect of returning to $500 per tonne of CFR. However, Vietnamese buyers are looking forward to the Kanto bidding session on July 12, so trading this week is weak.

Domestic scrap market: After Tue Minh, An Hung Tuong or Shengli ... at the end of last week until this week TISCO also bought scrap again, of course the price decreased compared to the previous 850 VND / kg. But this has helped the market more stably and therefore many factories such as Hoa Phat, Shengli, Nghi Son have increased slightly from 200-500 VND / kg this week. Shortage of goods also appeared in some places, so the price of yards also inched up to 100-200 VND / kg. If construction steel hadn't fallen in price this week, the pace of scrap's rise appears to have spread more widely.

Exported steel billet market: Sellers from Vietnam are making more efforts to improve consumption when purchasing power and domestic prices are weak. However, competitive export market is also great when offering a lot and offering less. Not  mention that Tangshan embryos decreased by 80 yuan per ton this weekend compared to last weekend is also a barrier. This week's embryo offer is fluctuating with a wide range of asking prices indicating increased offer pressure. Unlike last week, this week no successful trades were recorded.

 Domestic billet market: The price of workpieces fell slightly and then leveled off despite the early and more fall in construction steel prices. This week's embryo trade was also weaker than last week when caution was back. However, if scrap can increase, it is not ruled out that the embryo will inch up slightly next week to boost consumption.

Import HRC market: Prices continue to plunge and trading remains weak. China's SS400 offer fell by about $50-55 per tonne and India's SAE 1006 dropped between $50 and $60 per tonne this weekend. The market also received very low asking prices from Russia and high asking prices from Japan. Vietnamese buyers are often less likely to trade when price fluctuations decrease, not to mention HRC inventories are currently quite high while domestic purchasing power is weak. In addition, it seems that everyone wants to wait for formosa and Hoa Phat's July listed HRC prices to be available next week to see market trends.

Domestic HRC market: After a week of slow declines, the domestic HRC market has dropped significantly with 2-3 declines during the week. However, trading remains weak as futures prices fall, asking prices fall and the new price of Formosa and Hoa Phat is approaching. In addition, the decline of the price of steel pipes, boxes, corrugated iron is also a reason.

Construction steel market: As usual, Hoa Phat and many factories have maintained the discount once a week but this week, the price decreased earlier and the reduction was also more, reducing 150 VND / kg with rebar and 250 VND / kg with coiled steel. 

Source: giatonthep.com