Steel exports in April 2022 increased by 15% over the same period

Accumulating 4 months, steel exports reached nearly 2.5 million tons, up 9% over the same period last year.

Particularly for construction steel, export volume in April reached 175 thousand tons, sharply decreased by 44% compared to March but increased by 5% over the same period in 2021.

Previously, construction steel exports in March had a strong breakthrough in March when reaching 313 thousand tons, up 76% over the same period in 2021.

Explaining this decrease, VSA said that from the end of March until now, the price of raw materials has plummeted, causing the demand for construction steel to slow down.

Distributors seek to reduce inventory, so the amount of exported goods is much lower than usual. In addition, businesses are also looking for more markets and boosting exports to Cambodia, Hong Kong, Canada, the US...

In the opposite direction, in March 2022, finished steel imports into Vietnam reached 1.1 million tons with a turnover of 1.14 billion USD, up 23% in volume and 22.36% in value over the same period. year 2021;

Generally, in the first quarter of 2022, imports of finished steel products of all kinds to Vietnam were about 3 million tons with a value of more than 3.1 billion USD, down 18.04% in volume but up 18.84% in value.

Situation market for raw materials for steel production

62%Fe grade iron ore: The price of iron ore grade (62% Fe) on May 9, 2022 traded at  139 USD/ton CFR Tianjin port, China, down about 16 USD/ton compared to the beginning of April. 2022.

This price is about 71-73 USD/ton lower than the highest price recorded in early May 2021 (~ 210 - 212 USD/ton).

Source: VSA.

Coking coal:  The price of hard coking coal exported at the Australian port on May 9, 2022 traded at $480/ton FOB, a sharp increase compared to the beginning of April 2022. Coke prices tend to increase continuously since the third quarter of 2021 and adjust sharply in March 2022.

Steel scrap: The price of scrap steel of type HMS ½ 80:20 imported to East Asia port was at $530/ton CFR East Asia on May 9, 2022, down $94/ton compared to the beginning of April 2022.

Graphite electrodes: Demand for graphite electrodes (GE) fell but prices remained supported amid rising raw material costs.

HRC hot rolled coil:  HRC price on 9/5/2022 is at 797 USD/T, CFR Dong A port, down about 81 USD/ton compared to the transaction price in early April 2022. In general, the world hot rolled steel (HRC) market fluctuates, making the domestic HRC market difficult because flat steel producers (CRC, galvanized steel, steel pipes, etc.) use HRC as raw materials for production. export.

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