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The Asian steel scrap market is poised for headwinds that will occur in 2022 as key regions such as Vietnam and South Korea remain affected by an increase in Covid-19 infections, which has disrupted the economy. severe disruption of the regional supply chain.

The European Union (EU) will impose additional duties on aluminum foil from China after the European Commission (EC) found that Chinese aluminum producers benefited from excessive subsidies and unfair, the EU's official magazine on Wednesday (December 22) reported.

Iron ore prices on the Asian market ended a series of days of sublimation when turning down on December 22 due to concerns about the impact of anti-Covid-19 restrictions in China and the upcoming unseasonal period for the sector. construction in the world's largest steel producing country.

With the Chinese economy, the world's largest iron ore consuming market, continuing to weaken, analysts generally believe that iron ore prices will decline in 2022.

According to the data of the General Department of Customs, the export of iron and steel of all kinds in November decreased compared to the previous month, but in general, in 11 months, the export turnover of this item has exceeded 10 billion USD, up to 130.5. % over the same period in 2020.

According to a report of the Vietnam Steel Association (VSA), construction steel production in November achieved good results compared to the previous month and the same period in 2020, but consumption volume decreased sharply compared to the same period last year.

Steel prices today fell to 4,475 yuan/ton on the Shanghai Exchange.

After 11 months, iron and steel has registered in the group of export items of tens of billion USD with remarkable growth. Accumulated in 11 months, Hoa Phat Group achieved a total sales volume of all kinds of steel reaching 8 million tons, up 33% over the same period.

Iron and steel products have become the key import and export industries of many countries around the world with remarkable growth.

In the first 11 months of 2021, steel production and consumption both increased over the same period…

China's steel consumption is estimated at 947 million tons compared with 954 million tons this year. More cautious in real estate investment after Evergrande, uncertainty due to pandemic and high raw material prices will drive steel demand. downward.

The United States ranks fourth in Vietnam's steel exports with a share of 9.22% in volume and 13.13% in price. However, there is a particularly impressive growth in exports to this market...