Steel industry news

The domestic construction steel market begins in the construction season and partly comes from solutions to promote disbursement of public investment capital, which is the factor that helps Hoa Phat's consumption increase.

Green steel is the steel industry's destination on the path to net zero emissions.

Steel prices in the domestic market are expected to be under slight downward pressure in the fourth quarter as domestic demand remains weak, export activities slow down, and competition from Chinese steel.

Over the past year, the factory has made several production line improvements; Investing and putting into operation roll forming machine No. 3, increasing roll forming capacity, ensuring redundancy for continuous production.

Iron ore traders appear to be of the view that bad news for the Chinese real estate market is actually good news, pushing up prices of the commodity.

Construction steel sales volume reached more than 958,500 tons in September, the first positive growth and reaching the highest level since the beginning of the year.

According to Macquarie, China's market-driven production cuts may start to materialize in the fourth quarter, otherwise mandatory production cuts are likely to be implemented.

Southeast Asian countries are stepping up efforts to increase crude steel output with the aim of becoming self-sufficient in steel, raising concerns about global oversupply.

Steel prices have reached their lowest point in the past 3 years. With the gloomy developments of the real estate market, it is expected that the steel industry will take a very long time to recover.

Iron ore prices are increasing rapidly despite weakening steel demand from China's real estate sector as the country's mills maintain output amid the government's failure to impose production limits and replenish raw materials. Reserves - are at a low level.

Iron ore futures rose more than 2% on Friday, supported by rising steel mill output in China, although concerns about the property sector and lingering steel demand continued to weigh on sentiment.