2020 is considered by experts to be a challenging year for the global steel industry, including Vietnam.
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Vietnam Steel Association (VSA) said that in 2020, steel industry experts considered it a challenging year for global steel industry. Global steel market in the first two months of 2020 is bleak with steel demand of some industries weakening, it is difficult to draw promising conclusions with steel market this year.
For steel raw material market, the price of 62% Fe type iron ore on February 12, 2020 was trading at USD 87-88 / ton CFR in Tianjin port, China, increasing by about 12-15 USD / ton compared to with the beginning of January 2020. Steel billet price continued to increase by 10 USD compared to early January to 468 – 472 USD / ton on 12/2. However, compared to the same period in 2020, the price is still lower than about 40 USD / ton.
Meanwhile, the price of coking coal for export in Australia port on February 12 was about US $ 177 per tonne (FOB), unchanged from the beginning of the year. Hot rolled steel imported to East Asia port on February 12 reached 520 USD / ton (CFR), an increase of nearly 40 USD / ton compared to the beginning of the year.
On the same day, scrap steel price HMS ½ 80:20 imported to Dong A port also increased similarly to 325-330 USD / ton (CFR). Compared with other markets, scrap prices in East Asia are tending to be stable compared to European and American markets.
According to VSA, by the end of December 31, 2020, imports of iron and steel products and semi-finished products of all kinds reached more than 20 million tons, with a total import turnover of nearly US $ 13 billion, down slightly by 0.4% in volume. , but increased by 24% in import value compared to 2019.
In 2020, imported steel products from China will reach nearly 6.27 million tons, down 10% in volume. The proportion of steel imported from this country thus decreased to 46.3% of the total imported steel products.
In the opposite direction, for the whole year 2020, the export of iron and steel finished and semi-finished products reached over 7.8 million tons, up 40% in volume, with an export turnover of more than 5.7 billion USD.
ASEAN is still the main export market, with the export of finished steel products of more than 3.5 million tons of steel, accounting for more than 56% of Vietnam’s total finished steel exports in 2020.