Commenting on the domestic steel market from now until the end of the year, experts believe that in the fourth quarter of 2022, it may prosper. Because this is the usual period when steel demand increases when construction works are rushed. speed up progress. However, whether the demand increases or not depends on many factors, especially when the inventories of enterprises are still high, it takes time to process.
Production “going up”, consumption “going down” in September 2022
According to the latest report just released by the Vietnam Steel Association (VSA), in September 2022, finished steel products reached 2.446 million tons, an increase of 23.41% compared to August 2022 and an increase of 1.7 million tons. % over the same period in 2021; steel consumption of all kinds reached 1.998 million tons, down 7.19% over the previous month and down 9.9% over the same period in 2021. In the first 9 months of 2022, finished steel products reached 20.808 million tons, down 5 .8% over the same period in 2021; steel consumption reached 19,261 million tons, down 1.6% over the same period in 2021.
Regarding exports, data updated to August 2022 shows that Vietnam’s exports of finished steel products reached 513.74 thousand tons, down 16.26% over the previous month and down 65.82% over the same period last year. in the period of 2021. The export value reached 457.61 million USD, down 29.02% compared to July 2022 and down 68.25% compared to the same period in 2021. Generally in the first eight months of 2022, Vietnam exported about 5.92 million tons of steel, down 30.27% over the same period last year. Export value reached $6.08 billion, down 13.35% over the same period in 2021. The main export markets of Vietnam are ASEAN region (35.33%), EU region (19.68%). ), the United States (10.84%), South Korea (6.36%) and Hong Kong (China) (4.37%).
Increased demand helps improve profit margin
Since the beginning of the year, the domestic steel price has continuously decreased, which has affected the stocks of this industry. However, securities experts expect that steel prices can recover better in 2023. As steel demand is expected to increase again, steel prices will have a good recovery and help improve profit margins. of manufacturers.
In the newly released steel stock outlook report, experts of VCBS Securities said that the remaining capital planned for disbursement in 2022 and 2023 will be a strong driving force to promote construction. construction of infrastructure projects as well as demand for construction steel.
Source: https://thoibaotaichinhvietnam.vn/thi-truong-thep-se-khoi-sac-khi-nhu-cau-tang-vao-dip-cuoi-nam-114756.html