Imported scrap market: A series of new price records have been set, the scrap asking price has reached 700 USD/ton CFR while the H2 transaction is at an all-time high up to 620 USD/ton CFR. Buyers from Vietnam are getting used to the offers of over 600 USD/ton CFR even for common scrap. The price of imported scrap has not shown any sign of decreasing in the short term, so it will  make the domestic price  increase and Vietnamese buyers will soon import in large quantities instead of just a few thousand tons like this week.

Domestic scrap market: The market's reluctant situation has ended, prices increased simultaneously when the prices of billet, construction steel and imported scrap all increased. Many factories have increased 2 times in a row during the week. The scrap yards actively increased early and adjusted the selling volume due to putting expectation on increasing prices next week.

Export Billet market: Export of billet was mostly flat, the market was less hot after skyrocketing last week. However, sellers from Vietnam still want to keep the $800/ton CFR mark. The volatility and gradual recovery of the Chinese market will affect the export market next week. In addition, the increase in scrap price, domestic billet and construction steel increase are also the factors that promote the exciting export of billet again. Besides, the continuous increase of world markets is also a factor that promotes the price of embryos to increase.

Domestic billet market: The gloomy trend was broken, the price increased sharply, the transaction also increased after the price of construction steel and scrap increased sharply. Domestic embryos are likely to increase next week as bullish factors are still actively supporting the market

Imported HRC market: India continues to abandon Vietnamese buyers, so fluctuations from China have created much heavier impacts. Futures prices plummeted and uncertainty caused bids to rise and fall, and offers plummeted. However, at the end of the week the market showed signs of returning and Chinese sellers still seem to want to conquer the above $900/ton CFR solid mark with SS400, SAE 1006.

Domestic HRC market: Prices increased at the beginning of the week and then fell in the middle of the week due to the pressure from the futures market but the bullish outlook seems to be returning. Next week Formosa and Hoa Phat will announce a new price, which will definitely increase, just a 3-digit or 2-digit increase. Regardless of any adjustment, domestic prices also have the opportunity to increase, not to mention the price of corrugated iron, steel pipes and boxes still increasing.

Construction steel market: Mills continued to surprise as prices rose again and surged stronger with all previous rallies with an increase of up to VND600/kg. Many factories in the South have not had time to increase their prices for the first time, so this week they increased twice in a row. Trader prices also increased significantly. Although it has continuously increased, it is likely that construction steel will increase next week because of the increasing of scrap and billet and other factors related to production .

Steel pipe and box market: Most factories still increase their prices, and the price difference between factories is also widening. In the coming week, many factories have announced price increases, the developments are likely to be similar to this week although the increase may be higher.