World market:
• Chinese market:
o Iron casting prices fell slightly, demand fluctuated due to loosened environmental protection policies. However, the price is still not stable. The price is expected to increase and decrease in the near future.
o Rebar and wire rod prices increased slightly again, it is expected that the production cuts will be widespread plus the extended May 1 holiday will help ease the pressure in the market.
Domestic market:
• Construction steel: After the 4th price drop this month, construction steel price is currently stable with no change.
• Scrap: today, April 26, scrap buying price is still stable, however, the market purchasing power is relatively weak although the shortage of goods has not been overcome.
• HRC sheet: The decrease in HRC price in China puts pressure on HRC price in Vietnam market
