The most recently released trade data indicates that scrap steel imports by Vietnam during the month of November this year dropped sharply when compared with the previous month.
Vietnam imported 220,000 tons of scrap steel during Nov ‘15. The scrap imports by the country have dropped by nearly 12.8% when compared with the imports during the month before. The scrap imports by the country had totaled 253,000 tons during October this year.
The average import price of scrap steel during the eleventh month of the year 2018 stood at US$187.70 per ton. The average scrap import value dropped considerably by 11.4% when matched with the previous month. The scrap imports by the country had averaged at $211.80 per ton during October this year.
The cumulative scrap imports by the country during the initial eleven months of the year totaled 2.916 million tons. The scrap imports were down by 5.1% when compared with imports during the corresponding eleven-month period in 2017. The Vietnamese scrap imports had totaled 3.073 million tons during January to November last year.
The country’s scrap imports are estimated to total around 3.18 million tons during the entire year 2018.
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However, some Chinese steel tube manufacturers have reportedly raised their prices to 5440 yuan/ton, but the market remains skeptical that the increases are an attempt to improve their position in ongoing car negotiations.
This week, Tianjin steel pipe recorded transactions in the range of 4,500 to 4,700 yuan per tonne. Future gains are expected to be modest.
According to statistics released by the China iron and steel association, the country’s steel production fell slightly by 0.8 percent in the week ending June. 19, 2018. In the week leading up to that, production fell 1.1 per cent.
As of June 19 date within a week, the domestic production of the original steel output of 1.523 million net tons. The company, according to data from the production of raw materials in slightly down 0.8% this week. A week before it has to do with (that is, as of December 12 week) compared to the production data of 1.536 million tons. Moreover, the weekly production was significantly reduced by 15.2 per cent compared to the same period of the previous year, compared with a yield of 1795 million net tons.
In the week ending June 19, 2018, capacity utilization rate of structural steel pipe manufacturer decreased to 63.7%.
Capacity utilisation is reduced slightly compared to the previous week (i.e. the one end of December 12). In addition, capacity utilization significantly reduced by 74.6 percent compared to the same period of the previous year.
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