- World market:

• Chinese market: After a continuous decline in prices, today, May 9, the market had an iron start when steel products all increased simultaneously.

• Prices of steel products on the Shanghai bourse all increased at the same time, partly due to the reduction in output from factories. Crude steel output in April 2023 reached more than 2.2 million tons, down about 3.6% compared to March 2023 and down 6.5% over the same period last year.

-Domestic market:

• Construction steel: great news came to the construction steel industry when consumption in early May increased slightly, but downward pressure remained. Up to now, factories have reduced prices 5 times since the beginning of 2023.

• Scrap: Although the shortage of goods continues, the price of scrap continues to decrease by 100-300 VND/kg.

• HRC sheet: With the positive signal from the Chinese market, the price of HRC offered for import increased slightly by ~9USD/ton.