In August, imports of iron and steel scrap recorded a 45% decrease in volume and value compared to July but prices remained at the highest level in the first 8 months of the year. By the beginning of September, the prices of raw materials for steel production tended to level off according to world prices.
According to statistics of the General Department of Customs, imports of iron and steel scrap of all kinds in August reached 388 thousand tons, valued at USD 185 million, down nearly 45% in both volume and value compared to July.
Accumulated in the first 8 months of the year, imports of iron and steel scrap reached 4.5 million tons, worth US$1.9 billion, up 19% in volume, double turnover compared to the same period in 2020.
Source: Hoang Anh compiled from the General Department of Customs
Import price of iron and steel scrap in August reached 477 USD/ton, not much change compared to July. Generally in the first 8 months of the year, the price of imported steel scrap reached 427 USD/ton, up 70% over the same period last year. period of the previous year.
Source: Hoang Anh compiled from the General Department of Customs
According to the Vietnam Steel Association (VSA), at the beginning of September, the prices of steel production materials tended to stabilize according to the slowing down of the price of raw materials in the regional and world markets until the end of the month with a slight increase.
Specifically, the price of HMS 1⁄2 80:20 scrap steel imported to East Asia port was at $483/ton CFR East Asia on September 8. This price decreased by 12 USD/ton compared to the beginning of August. The price of scrap steel offered for sale in the US and European markets was stable, while East Asia tended to decrease.
Similarly, the price of iron ore on September 8 traded at 132.8-133.2 USD/ton CFR Tianjin port (China) fell sharply by about 33 USD/ton compared to the time of 11/8. This price is about 80 USD/ton lower than the highest price recorded in early May.
Price movements of raw materials for steel production (Source: VSA)
In the opposite direction, the price of coking coal and graphite electrode (GE) tends to increase. Specifically, the price of coking coal for export at the Australian port on September 8 traded at about 300 USD/ton FOB, a sharp increase of 78.5 USD/ton compared to the beginning of August.
China’s GE price traded at 26,000 – 27,000 yuan/ton, equivalent to 4,025 – 4,180 USD/ton while the 450 mm HP grade was at 21,000 – 22,000 yuan/ton, equivalent to 3,200 – 3,400 USD/t. ton. This price has increased by about 34% since the beginning of 2021.
In addition to the price of raw materials, low domestic demand contributes to stable construction steel prices at 16,200 – 16,500 VND/kg depending on the product category and each specific enterprise.
T&G International Joint Stock Company
Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
Hotline: 0345786803
Email: hrm@tginterjsc.com
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