Scrap Import Market: The scrap import market is currently lively with increased interest from Vietnamese buyers. Prices for scrap from the United States and Japan have slightly decreased, but the number of bidding offers has increased. However, there have been few recorded transactions.

 Domestic Scrap Market: The domestic scrap market has seen a price increase after a period of decline, indicating sustained demand. Many traders and scrap yards are stockpiling scrap, awaiting information from the steel billet market.

 Export-Import Billet Market: Vietnamese export billet prices have slightly risen, while import billet prices are lower. This market has seen limited trading activity due to low buying demand.

 Domestic Billet Market: Domestic billet prices have increased slightly due to rising demand and limited supply. However, the price increase has been modest at 0.84%, influenced by developments in the construction steel market.

 Imported HRC Market: HRC futures prices have experienced fluctuations, with imported HRC prices from China to Vietnam declining. Nonetheless, demand for imports remains low.

 Domestic HRC Market: The domestic HRC market saw an increase at the beginning of the week, followed by a decrease, but still managed to rise by 1.5% compared to the previous week. The market faces challenges, especially with Hòa Phát's reduction in HRC prices.

 Exported Construction Steel Market: Wire rod prices imported from China have decreased, while Vietnamese exported construction steel prices remain stable.

 Domestic Construction Steel Market: Hòa Phát and some other factories reduced construction steel prices at the beginning of the week, marking the first decrease in September. Improved consumption and a rising billet price have alleviated pressure on construction steel prices.

 Pipe and Box Steel Market: Prices for pipe and box steel continue to decrease following the trend from the previous week. Pressure increased towards the end of the week due to declining HRC prices.

 In September 2023, the Vietnamese steel market exhibits a contrasting scenario between finished steel products and raw materials. Despite some signs of improvement in consumption, prices for finished steel products continue to decrease. Meanwhile, raw material prices, including billet and scrap, show signs of recovery, although their price trends remain unstable due to fluctuations in the Chinese market.

Source: Giathepton