Imported scrap market: Prices fell without transactions. The global scrap market was generally on the decline and next week it would continue to decline. This week, most offers have gone below $500 per tonne of CFR. Next week, it was possible that the successful trading price would be only about $ 460-480 per ton of CFR with popular scraps. Japan's H2 price was likely to fall further from $10-20 a tonne after Japan's domestic prices fell further this weekend and many scrap importers lowered their purchase prices simultaneously. 

Domestic scrap market: Witnessed a very sharp drop in prices in the Northern market and was spreading gradually to other markets. Many large factories in the North have dropped from 400-500 VND / kg this week. Scrap yards and enterprises decreased from 500-700 VND/kg, especially those with 800-1,000 VND/kg reductions. Due to the constant decline in prices in the North, prices in the Central, Central Highlands and South have also decreased slightly from 200-300 VND / kg. Next week, the possibility of prices in the South will adjust, especially from factories due to the price difference with the North has decreased.

Export billet market: This week, the export embryo market remained "frozen" when prices in Tangshan dropped sharply, while other Southeast Asian markets only maintained low prices of about $ 650-660 per ton CFR. Vietnamese factories this week almost did not offer prices, so the pressure on factories increasing even more heavily. This situation was unlikely to change next week.

Domestic steel billet market: Although there have been many measures to keep the price of embryos from falling sharply, this week embryos still decreased from 500-600 VND / kg, especially in the Northern market. Embryos decreased mainly because of slow domestic consumption pressure, frozen exports and scraps decreased continuously. Next week, prices were likely to remain lower even as construction steel prices are managed by factories seeking to remain stable.

Imported HRC market: This week there were not many asking prices, mainly due to china's volatile futures market and foreign exporters waiting for Formosa's prices. Overall, the asking price was still falling, the sea is only $ 820-850 / ton CFR with SS400 / A36 depending on orders, factories of China, India. Japan's bid is also quite low this week. In the coming week, the asking market was likely to be more active as the price trend of Formosa, Hoa Phat was clear and the futures market is rising again.

Domestic HRC market: Formosa's announcement of a new HRC price dropped of $40 per tonne which has made the domestic HRC market to continue to fall by a beat with common labels such as the SS400/A36 this week in both the North and South. This week has still been a difficult week for the domestic market as prices have fallen but consumption has also fallen, because the futures market has been in shock decline,because of the waiting sentiment of buyers with new prices from Hoa Phat, Formosa.

Construction steel market: As forcasted, northern factories have not increased prices, so some southern factories have not been able to boost the construction steel market as in October. Even the majority of distributors still sell at the old prices after the prices of some factories rise. In the North this weekend, there were more factories supporting prices. This suggests that factories are looking to keep construction steel prices in the face of strong downward pressure due to falling scraps and embryos as well as rising inventories.

Steel pipe market, box: In  the South, prices are still stable, even slightly up but in the North, prices have fallen over the weekend. Factories dropped about 300 VND /kg but many dealers have dropped deeper. In the coming week, the Southern region might also adjust slightly with the selling prices of dealers.