Steel industry news

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.

Accumulated in the first 11 months of the year, Hoa Phat sold 6.6 million tons of steel, down 7% over the same period last year, mainly because there were no orders to export steel billets.

The iron ore market is choosing to focus on China's efforts to stimulate the country's real estate sector.

With the forecast that the global steel demand will decrease, the demand is weaker and the oversupply is high in the domestic market, the "big man" of the steel industry Hoa Phat focuses on developing and actively producing domestically.

Iron ore futures prices rose on Monday to their highest in more than a month, as China's top steelmaker announced it would continue to tweak COVID-19 containment rules and introduce support measures. for the real estate sector is struggling in the country.

In the first 9 months of the year, Vietnam imported more than 1.05 million tons of scrap steel from the Japanese market, down 42% over the same period.

The time limit for investigation and review at the end of the period of the application of safeguard measures is not more than 6 months from the date of issuance of the decision on review. In case of necessity, it may be extended once but not exceeding 6 months.