20/04/2021
Asian steel billet prices increased on April 19 in new transactions, but buyers tended to delay, while China's market weakened due to slower demand. In the Philippines market, the demand was still strong, successful transactions were still active, but the selling and buying prices remained stable compared to the previous week, because the selling prices have not been refreshed by sellers.
The Asian HRC market is stabilizing despite signs of weakness in China. Meanwhile, buyers in Vietnam are mostly inactive, because domestic supply has better prices.
The construction steel market in the north of Vietnam, after 5 times of shock increases since the beginning of April, is gradually stabilizing so that buyers can balance with the new price. After 5 times of price increase with a total increase of VND 1600/kg excluding VAT, the price of construction steel in the North has reached the highest level in 13 years, since 2008. The price increase of construction steel in Vietnam is still there. There is no sign of stopping, but it is difficult to increase the shock like in the past time.
Source: Market Information
