Some key points of the industry in Q3/2023:
World prices of raw materials and finished steel products continuously fluctuate
Vietnam's domestic and export steel prices continue to decrease.
The production and consumption situation did not change much compared to Q2. Domestic consumption has only shown clearer positive signs since September.
Many businesses in the industry reported business losses
Domestic businesses are facing even more difficulties as the pressure to compete with cheap Chinese steel entering Vietnam increases sharply
Specifically, in Q3/2023, production did not change much compared to the previous quarter, because the sales situation has not changed much. The total consumption output of the entire industry is almost equivalent to Q2. In particular, domestic consumption increased by 3% compared to Q2 but was still lower than the same period last year. Exports continued to be positive at 71% over the same period.
OUTLOOK: Total industry consumption may increase slightly in Q4 but it will be difficult to make a breakthrough. In particular, domestic consumption may increase positively thanks to public investment and some real estate projects restarting after being deregulated, but the increase may not be much. Exports are unlikely to make a breakthrough because global demand is forecast to remain weak, and even weaker than forecasts at the beginning of the year.
TABLE OF CONTENTS
A. GENERAL PERCEPTION
B. CRUDE STEEL SUPPLY & WORLD STEEL DEMAND 2023F-2024F
C. VIETNAM & WORLDWIDE STEEL PRICE PERFORMANCE
World steel price
Coke price (FOB)
Iron ore price
Steel bar price
Construction steel price
Domestic steel price
Correlation of prices of some domestic steel and HRC price trends in the world
Price movements & compare prices of D6 CB240 coils and D10 CB300 reinforcing bars of some domestic steel brands
D. SITUATION OF STEEL MARKET IN THE COUNTRY
Overview of Production - Consumption of domestic steel
Production situation of each item 9M/2021 – 9M/2023 & by quarter
The situation of steel consumption in the whole country & of VSA member enterprises (9M/2021-9M/2023) & by quarter
Export situation of the whole industry in Q3/2023 and 9M/2023
Import situation of the whole industry in Q3/2023 and 9M/2023
[VI] STEEL INDUSTRY REPORT - OCTOBER 2023
Number of pages: 30 pages
Data series: Last 13 months
Release date: October 20, 2023