SUMMARY
 
Contrary to the positive developments in Q1 and different from many previous expectations, in Q2 steel enterprises faced difficulties when both domestic and export demand decreased, finished product inventories increased, the domestic selling price must be adjusted down 10 times in a row while many enterprises still have inventories of raw materials at high prices. Specifically, total domestic steel production in Q2 continued to increase by 4.1% year-on-year and 15.7% compared to the previous quarter. While domestic demand in Q2 is estimated to decrease by 36.5% year-on-year. Export volume in Q2 also decreased by nearly 14% compared to the previous year.
 
STEEL PRICE MOVEMENT:
During most of Q2/2022, world prices of iron ore and steel grades fell in most major markets (including China, the US, and the EU). Specifically, as of July 22, 2022, the price of iron ore in the US reduced by 50.7% compared to the same period last year, and the price of HRC in China and the US also decreased by 27% - 40% compared to the end of Q1, construction steel prices fell 28% from the peak in mid-April and fell 5% over the same period last year.
 
TABLE OF CONTENTS
 
A. WORLD STEEL SUPPLY
Crude steel production output in the world by month
Crude steel production output of China by month
Crude steel production output of India by month
 
B. WORLD STEEL PRICE 
Iron ore price
HRC steel prices in China
HRC steel prices in the US
Construction steel prices in the world
FOB price of coke at Australia port
 
C. DOMESTIC STEEL PRICE
Selling price of Hoa Phat steel in the North
Selling price of Hoa Phat steel in the South
 
D. SITUATION OF DOMESTIC PRODUCTION
     Vietnam's steel production output by quarter
     Details of production output of each steel group 6M/2022
     (Industry-wide data)
Raw iron and steel
Rolled steel
Steel bars, angle steel
 
E. IMPORT AND EXPORT SITUATION
     Vietnam's iron and steel export output 6M/2018 – 6M/2022
     Vietnam's iron and steel export output by month 
     Export value of iron and steel 6M/2018 – 6M/2022
     The average export price of iron and steel in the last 13 months
     Structure of Vietnam's iron and steel export market in 6M/2022
     Steel export volume to some countries ASEAN and EU 
     Movements of exports to some major markets by month
EU
USA
Korea
Australia
 
     Steel import volume into Vietnam 6M/2018 – 6M/2022
     Import value of iron and steel into Vietnam 6M/2018 – 6M/2022
     The average import price of iron and steel in the last 13 months
      Structure of iron and steel import market to Vietnam in 6M/2022
      Movements of imports from some major markets by month
China
Japan
Korea
ASEAN