Analyst Pin-board Steel consumption recovered strongly in November
Steel consumption has recovered strongly in November after falling in October. The demand for house and factory repairs after the stormy period, and the favorable weather for construction activities supported sales in all three main steel segments. In addition, due to increasing steel prices, retailers tended to store more products in the short-term. In fact, HRC prices increased from USD 530/ton in early November to reach USD 700/ton. Meanwhile, construction steel prices were predicted to increase due to higher marterial prices. In the construction steel segment, the selling volume was supported by the domestic market as domestic sales in November increased by 61% MoM and 9% YoY. Similarly, steel pipe consumption was still high owing to strong domestic demand. In the coated steel segment, export volume was still high due to the strong demand from the EU. Several coated steel manufacturers have sufficient export orders for production until March 2021. For December, we believe coated steel consumption can be still good due to high exports, meanwhile, construction steel and steel pipe demand could decrease slightly compared to November.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.