Imported scrap market:

The imported scrap market continues to be active, with more offers, especially from Japan. Prices also tend to increase gradually, and buyers are also interested in the import market.

Domestic scrap market:

Scrap prices of many factories such as Hoa Phat, Tisco, Tungho had to adjust down slightly this week, after billet prices decreased and rebar prices did not increase.

Import and export billet market:

Vietnam's export billet offers basically remained unchanged in the context of Southeast Asian billet prices showing signs of decreasing while Tangshan billet prices increased significantly at the end of the week. Trading activities were not too active due to increasingly weak demand.

Domestic billet market:

The number and volume of billet transactions are decreasing, many buyers tend to stay out of the market. In addition, there is pressure when rebar has not increased, sellers had to slightly lower billet prices at the beginning of the week.

Import HRC market:

The initial futures price decreased and then increased again at the end of the week, HRC offers from China to Vietnam also fluctuated similarly. Notably, Japan also offered to return to Vietnam. Trading activities have also resumed.

Domestic HRC market:

This week, the domestic HRC market has seen many mixed factors when import prices increased and decreased while downstream prices were weak. Traders still kept prices stable waiting for a clearer market situation.

Export construction steel market:

Vietnam's export construction steel offers remained stable or decreased slightly, in the context of a decrease in the Southeast Asian market, despite the increase in steel prices in China.

Domestic construction steel market:

This week, many factories continued to adjust up for coil steel but rebar prices remained stable. High inventories are making factories more cautious in adjusting prices even though consumption is still positive.

Steel pipe and box market:

Factories continue to adjust prices up this week and next week, pulling traders' prices up. However, the rate of increase at factories has slowed down significantly.

Corrugated iron market:

Similar to steel pipes and boxes, some large factories have increased steel prices both this week and next week, but the number of factories has increased is small. Traders have also adjusted prices up slightly and expect more positive results next week. The Chinese market's rebound at the end of this week has had a positive impact on the Vietnamese market, typically HRC. If the increase in HRC continues, items such as steel pipes, boxes and corrugated iron will be supported, but the possibility of a simultaneous increase by factories is considered unlikely. Meanwhile, downward pressure on billets and scrap is gradually increasing as factories have not shown signs of adjusting rebar prices, although they have increased 2-3 times for coil steel. If this situation continues, the Vietnamese steel market may once again return to a downward state.