Tiếng Việt
Coal and iron ore prices increased from 1.2% to 1.9%, leading to a sharp increase in billet prices reach $565/mt.
The volume of scrap imported to Korea increased sharply from 58,000 tons to 127,000 tons within 2 weeks.
The Japanese scrap price offered to Bangladesh was at $460/mt, quite high compared to the domestic market at $450-455, buyers showed negative signals.
The price of HRC SS400 on Shanghai China floor increased by $5/mt in the past week. Futures contracts also increased slightly, but demand has not changed significantly due to the approaching Lunar New Year.
SAE 1006 India price is offering at $640-645 CFR domestic, equivalent to China price. Formosa Vietnam is adjusting its expectation that the price will increase by $650-660/mt for delivery in March and April.
Although the market demand is not strong, but the expectation of the market’s recovery after the Lunar New Year is very high, all factories have announced simultaneously to increase their prices strongly after Chinese New Year with an increase of 400- 800vnd/kg ($20-40). The EU market will return to strong buying at the end of February and March, which is an important recovery turning point for the year 20.