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The steel market is forecasted to recover strongly in the third and fourth quarters thanks to factors such as increased public investment, credit packages for social housing projects, and a more positive economic situation in Vietnam than in the past. equal to the world.

In the context of weak domestic steel demand and rising costs pushing up global commodity prices, the selling price of finished steel is increasing slower than the rate of input materials.

VSA said that since the beginning of 2023, construction steel prices have had 4 consecutive increases

Due to fall on the occasion of the Lunar New Year, the country's iron and steel export output of all kinds reached only 672,000 tons with a value of nearly 457 million USD, down 14.8% in volume but down sharply by 48% in turnover.

The Trade Remedies Administration recommends that associations and enterprises exporting related products need to learn about Canada's review regulations to develop an appropriate appeal plan.

After many months of decline over the same period, construction steel exports in December 2022 reached 123,316 tons, up 26.5% over the same period in 2021.

S&P Global Commodity Insights predicts that in 2023, China is likely to find ways to squeeze domestic steel production but still invest in capacity in ASEAN countries to maintain its position as a giant steel industry.

After the success in producing coiled steel for car tires, Hoa Phat Dung Quat Steel has recently continued to test and successfully produce rebar for coiling.

In the context that China's construction sector is still facing difficulties, while the US and Europe are likely to fall into recession, India is gradually becoming a "savior" to help boost global steel demand. bridge.

On December 14 and 15, Hoa Sen Group and Formosa Ha Tinh increased prices of hot rolled coil (HRC) products.