Imported Scrap Metal Market:

The imported scrap metal market continues to maintain its upward trend, especially with some Japanese scrap metal bids increasing slightly. At the same time, the market also sees transactions with volumes ranging from 10,000 to 20,000 tons.

Domestic Scrap Metal Market:

Several steel mills have adjusted scrap prices upwards, including large mills like Southern Steel and Tisco, as well as many smaller mills. As a result, scrap prices for traders have also increased, and it is expected that they will continue to rise.

Imported and Exported Steel Billet Market:

After a slight dip in the past week, the Southeast Asian and Chinese billet markets have decreased, affecting the Vietnamese billet market. In terms of trading, due to weak demand, Vietnam has also seen limited billet trading in both the import and export markets.

Domestic Steel Billet Market:

The billet market has several factors driving price increases, such as supply shortages and limited scrap metal availability. However, due to the influence of construction steel, billet prices have increased relatively slowly, with only a 0.41% increase this week.

Imported Hot Rolled Coil (HRC) Market:

After a sharp decline in futures prices, the prices of imported HRC from China to Vietnam have also decreased significantly. However, the market has still seen substantial trading of HRC.

Domestic Hot Rolled Coil (HRC) Market:

Despite the decrease in imported steel and steel products prices, traders have limited price adjustments to avoid market downturns. Therefore, HRC prices only decreased by 0.7% this week.

Exported Construction Steel Market:

The prices of exported steel bars from Vietnam have remained stable, influenced by the stagnant Southeast Asian market. However, the Chinese market has seen a decrease, and trading at low prices in Singapore has made this stability difficult to sustain.

Domestic Construction Steel Market:

Steel mills continue to raise construction steel prices, but the number of mills making adjustments has decreased significantly compared to the previous week, and Hoa Phat's full participation has not yet been observed. Nevertheless, expectations remain high due to the rising scrap metal prices.

Pipe, Box, and Sheet Steel Market:

Many major players have aggressively adjusted down their pipe, box, and sheet steel prices, including Hoa Phat, Hoa Sen, Sendo, leading to a sharp decline in trader prices compared to the previous week.

Sheet Steel Market:

Hoa Sen has also adjusted its sheet steel prices downward this week, and some other mills have made unofficial price adjustments as well. Consequently, trader prices have decreased slightly this week.

In summary, the Vietnamese steel market in this week exhibits clear divergence, with the construction steel, scrap metal, and billet markets trending upward, while the pipe, box, sheet steel, and HRC markets are moving in the opposite direction. Overall, the market is heading towards adjustments in October 2023, as traders anticipate that mills will introduce various policies during the month. Additionally, traders are also waiting for developments in the Chinese market after the holiday, as it has not been particularly positive leading up to the break.