World market:

China market: The price of iron ore and finished steel products continued to decrease slightly in the morning session of May 5

The decline coming from the Chinese market has spread throughout the Asian market. Recording the first trading sessions of May, the market price of export ingots in Southeast Asia and Russia decreased by ~$10/ton from the previous month, while in India, the export price of ingots decreased by ~$20/ton over the same period last month.

Domestic market:

Construction steel: Right after the long holiday, Hoa Phat and other steel mills simultaneously reduced the price of rolled steel by 150 VND/kg. This is the first downward correction in May, and the 5th decrease since the beginning of 2023

Scrap billet: Price of billet decreased slightly by 100-200 VND/kg depending on the area due to pressure from construction steel and scrap price

HRC sheet: With weak demand, plus the pressure from imported HRC prices and the continuing decline of factories, dealers have made a slight move to stimulate demand right after returning from a long holiday. . While waiting for a new move from the factory, and it is expected that there will be a price adjustment phase from the factory soon.