Thứ Sáu, 13 tháng 12, 2019

New Price Formosa Vietnam 13th December 2019

With the up trend domino effect in all markets, today 13th December 2019, new price Formosa Ha Tinh has increased officially 15 usd/ton for end of January/February 2020 shipment.
  • HRC SAE1006 skin-passed: 485 usd/ton CIF FO (470 usd/ton CIF previously)
  • HRC SS400 and pipe making grade: 475 usd/ton CIF FO (460 usd/ton CIF previously)
  • HRC SPHT3, S235JR, SG255 and SS490: 505 usd/ton CIF FO (490 usd/ton CIF previously)

In the same time, new price Formosa offers for long products are up by 10 usd/ton for cargoes to be shipped and delivered in end of January/February 2020 shipment.

  • Wire rod grade 2 mesh quality mild steel: 492 usd/ton CIF (482 usd/ton CIF previously)
  • Wire rod mesh quality: 510 usd/ton CIF (500 usd/ton CIF previously)
  • Wire rod general cold work quality: 520 usd/ton CIF (510 usd/ton CIF previously)

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Thứ Hai, 21 tháng 10, 2019

Overall EU Steel Export And Import Within 2019

EU Steel Safeguard Measures were partly motivated by the fear that US measures would detour to EU the steel flows losing their markets in US as well as in other parts of the world. The following charts will illustrate how recent prevailing global steel protectionism and EU steel safeguards have impacted EU steel export and import. 

  1. EU steel export
  • Despite a more and more protectionist market environment, EU mills deliveries into export markets did only slightly fall by -1,7 % in first 6 months of 2019. 

  • Exports of Strip Mill Products did increase significantly, whereas exports of longs dropped heavily, explaining the overall negative development of exports by EU mills.

  • EU mills were able to increase All Steel Products exports mainly to emerging economies in Asia and Central America, whereas exports to some traditional export markets did slump.

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Thứ Sáu, 18 tháng 10, 2019

Updated Price for Vietnam’s HRC Market on 19th October 2019


With the down price trend due to weak demand in all markets, Formosa Ha Tinh has adjusted new price for December shipment by a decrease of 20 usd/ton.
HRC SAE1006 skin-passed: 460 usd/ton CIF (480 usd/ton CIF previously)
HRC SS400 and pipe making grade: 450 usd/ton CIF (470 usd/ton CIF previously)
HRC SPHT3, S235JR, SG255 and SS490: 480 usd/ton CIF (500 usd/ton CIF previously)...
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Thứ Năm, 17 tháng 10, 2019

India has imposed provisional anti-dumping duty on Aluminium-Zinc Coated Steel import from Vietnam, China and Korea.

India has imposed provisional anti-dumping duty on Aluminium-Zinc Coated Steel import from Vietnam, China and Korea.
In 15th October, 2019, India issued a Notification No.40/2019-Customs with content that apply provisional anti-dumping duty on Aluminium-Zinc Coated Steel import from Vietnam, China and Korea. 
Earlier, on July 15, 2019, the Indian Government issued a notice of the preliminary investigation. And now, after 3 months of continuing the investigation, the results of the investigation are almost unchanged and that is also the result of the newly announced interim tax.
The results are shown in the following table:

NoCountry of Origin/ or ExportCountry of ExportProducerDuty Amount (USD/ton)
1Korea RPKorea RPDongkuk Steel Mill Co., Ltd28.67
2Korea RPKorea RPPOSCO113.49
3Korea RPKorea RPPOSCO Coated & Color Steel Co., Ltd113.49
4Korea RPAnyAny other producer122.66
5Any countryKorea RPAny122.66
6VietnamVietnamTon Dong A Corporation45.35
7VietnamVietnamHoa Sen Group54.07
8VietnamVietnamTay Nam Steel Manufacturing and Trading Co., Ltd49.05
9VietnamVietnamNam Kim Steel Joint Stock Company86.06
10VietnamAnyAny other producer199.53
11Any countryVietnamAny199.53
12China PRChina PRZhejiang Huada New Materials Co., Ltd68.08
13China PRAnyAny producer129.59
14Any countryChina PRAny129.59

This Anti-Dumping Duty only apply for Aluminium/Zinc Coated Steel, and exclude Zinc Coated Steel without addition of Aluminium; Aluminium Coated Steel without addition of Zinc; and Pre-painted or Colour Coated Aluminium Zinc alloy coated steel. 

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Thứ Ba, 15 tháng 10, 2019

Vietnam Ranked In Top 10 Ranking of Country Import to USA – High Risk Facing Trade Defense

In the first 9 months of 2019, Vietnam’s exports to the US market increased by 34% to US $ 10.9 billion, leaping from 12th to seventh on the list of US suppliers of goods. . Previously, there was speculation that Vietnam could outstrip Italy, France, the United Kingdom and India to rise to a high position in the top countries exporting goods to the US. If this growth continues, the total value of Vietnam’s exports to the US could reach $ 69 billion.
Among goods exports to the USA, steel is a major commodity and is considered a key product. Vietnam become to stands out among the region whose exports are heavily affected by the US-China trade war. Vietnam’s accession to free trade agreements (FTAs) such as CPTPP, EVFTA will help Vietnamese goods have more opportunities and increase competitiveness when exporting to fastidious markets like the US.

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Thứ Hai, 14 tháng 10, 2019

Vietnam’s Steel Industry Needs to be More Careful Before The Wave of Trade Defense.

At the end of August, the Ministry of Industry and Trade issued an additional list of Vietnam’s exports likely to be subject to trade defense investigations from other countries around the world.
This list has total 25 products but there are 6 products related to steel industry. The most significant in the steel industry is corrosion-resistant steel products, which can be investigated in two markets, EU and Canada.

On January 22, 2019, Canada imposed anti-dumping duties on anti-corrosion steel products imported from China, Taiwan, South Korea and India with tariffs of 3.6 – 53.3%.
From this time, the amount of goods that Canada imported from Vietnam also increased sharply. In January, exports amounted to 14 million Canadian dollars. The growth rate of export value suddenly increased in April and May 2019. April increased by 90% compared to March and May increased by 2594% compared to April. In the first 7 months of 2019, Canada imported 109.3 million Canadian

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Chủ Nhật, 13 tháng 10, 2019

Time for Vietnamese Producer to Register REX System



As mentioned in previous article, REX System is a self-certification system of product origin. 
Refer to previous article in the following link: 
The convenience of this system is that manufacturers no need to apply for C/O form A each time they export goods to the EU. Instead, for orders with a value below 6000 EU, producers can self-certify the origin of their goods, and orders above 6000 EU need to register REX Code at VCCI to be able to self-certification of origin.
However, goods that want to be certified from Vietnam must also meet the requirements for raw materials as agreed by Vietnam and the EU.
Recently, MRS Team has received a lot of questions asking for advice on the REX System registration process, so through this article, MRS Team will share some experience for Vietnamese manufacturers. 

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Thứ Tư, 9 tháng 10, 2019

IMO 2020 – Significant Freight-rate Rise To Put High Pressure on Steel Exporters

The significant rise in global freight rates caused by tightening emission control regulation from the International Maritime Organization (IMO) started on January 1, 2020 to help reduce air pollution from global ships is putting high pressure on steel exporters.
In particular, the marine sector consumed about 3.8 million barrels of fuel each day in 2017, which made it responsible for 50 percent of the global demand. The bulk of this fuel was high sulfur fuel oil (HSFO), which produced sulfur emissions of between 1% m/m and 3.5% m/m when consumed by most shipping liners. Getting emission levels to under 0.5% m/m will require a large commitment from the shipping industry.
Nevertheless, as IMO 2020 announced, the ships can only use marine fuels with a sulfur content of not more than 0.5% when operating outside Emissions Control Areas (ECAs). The current sulphur content limit is 3.5%. ECAs include the Baltic Sea, the North Sea, the North American ECA (which includes most United States and Canadian coastlines), the US Caribbean ECA (which includes Puerto Rico and the US Virgin Islands, Fastmarkets has learned.

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Thứ Ba, 8 tháng 10, 2019

Vietnam Tightens Regulations on Determining Goods Origin.

Recently, Vietnam has become a member of many free trade agreements with many strategic areas, and most recently, especially CPTPP, EVFTA, … Because of these FTAs, Vietnamese goods have been enjoy tax incentives and more. 
In addition, the trend of using trade remedies to protect domestic production is used more and more. Markets that impose tax on each other and in combination with Vietnam’s tax exemption for potential markets will cause many factories and trading companies to commit frauds and fake certificates of origin goods (C/O) of Vietnam, labeling goods abroad before importing them to Vietnam for consumption and group of acts of cheating, counterfeiting C/O Vietnam, illegally conveying for export to enjoy preferential tax rates.
The General Department of Customs has zoned 15 groups of goods at risk of fraud, counterfeiting C/O, including steel products.


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Thứ Hai, 7 tháng 10, 2019

Vietnam Has The Best Steel Mill for Sharp Increasing in Indonesian Steel Demand

Indonesia is 10th-largest steel importer all over the world (2017 ranking). In 2018, Indonesia imported 11.6 million metric tons of steel, a 1 percent increase from 11.4 million metric tons in 2017. Indonesia’s imports represented 3 percent of all steel imported globally in 2017, International Trade Administration said.
In addition, Indonesia’s steel demand is expected to increase by 7-9% per year over the next few years, as VITIC/Reuters announced recently.
Particularly, Aloysius Maximilian, general manager of Gunung Raja Paksi, forecasted that the country’s domestic steel demand would reach 16 million tons

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Chủ Nhật, 6 tháng 10, 2019

HRC Price in Europe Market Continues To Slow Down

Hot Rolled Coil (HRC) price in Europe (EU) market continues to slow down and many buyers expect the price to fall further more. Therefore, most of reservation has been delayed, caused a negative trend in the fourth quarter of 2019.

In particular, as Fastmarkets’ weekly price assessment for domestic HRC, EXW in Northern Europe was €450-460 ($491-502) per ton on September 25, down by €5-10 per ton in week and down by €30-35 since the beginning of the third quarter 2019. Besides that, EXW in Southern Europe was €420-440 per ton on September 25, down by €10 per ton in week and down by €45-50 per ton since the beginning of July. 
The lower end of the assessment represented in Italy while the upper end reflected prices in Spain. Currently HRC steel prices imported to Italy are lower than domestic mills. Domestic suppliers try to stabilize market share and operate at full capacity to produce HRC steel in October 2019.

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EU Has Changed Some Regulation Related to Safeguard Measure

August, 2018, after a few month after 25% import duty under Section 232 that issued by USA, EU slapped Safeguard duty on 28 kind of steel product to protect its domestic factories. These actions made a strong wave for world steel market and there are a lot of market imposed new anti-dumping duty or safeguard duty and Trade defense become a best tools to ensure domestic production is not affected.
But in 27, September, 2019, the Official Journal of the European Union has issued a Commission implementing regulation that related to Safeguard measure against imports of certain steel products
The Commission has intended to change tax rate from 25% to 20%, but through this review investigation, they defined that there are more injuries are found and need to change some rules.
Under WTO Regulation, the if the import volume of developing countries smaller than 3%, the plaintiff can not apply Safeguard duty. But after this review investigation, there are some developing countries are subject to taxes, including Vietnam with 4 products: Non Alloy and Other Alloy cold Rolled Sheets, Metallic Coated Sheets, Stainless Cold Rolled Sheets and Strips, Other Seamless Tubes. 

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Thứ Sáu, 4 tháng 10, 2019

Vietnam HRC Imported Price Continues to Move Downwards

In the first week of October 2019, Indian decreased their offer for Vietnamese market. Latest offers were at 440 – 445 usd/ton CFR Vietnam for HRC SAE 1006 2mm, which were down around 15 usd/ton from 455 – 457 usd/ton last week. Heard there were spot lots around 5,000 mt signed at 440 usd/ton for October shipment. Buyers are expecting lower price and bidding at 535 usd/ton.
Russia HRC offers were also down around 15 usd/ton compared with two weeks agon. MMK offered big coil at 535 usd/ton for and small coil at 525 usd/ton for CFR Vietnam for early January shipment. However, compared with level 437 usd/ton CFR was made for December shipment, Vietnamese customers are still waiting for further discount. 
With national holiday mood, Chinese suppliers are out of market this week. Next week, when China comes back to work, market situation will be changed a lot.
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Thứ Năm, 3 tháng 10, 2019

Philippines is a big islands nation that located in the East of SouthEast Asia. According to statistics, the Philippines is the 17th largest import country in the world, with an output of 9.1 million tons in 2018. This proves, the steel consumption in the Philippines is quite high.
The reason for this is due to the geography of the Philippines. The Philippines is an archipelago located in the unstable crust area, frequent earthquakes, tsunamis and typhoons.
Each time a disaster occurs, the construction works in this country are also difficult to sustain and often need to be rebuilt. It is for that reason that almost no investor dares to invest in building steel factories in this country.

Because there is no domestic production and often rebuilding constructions, the Philippines has to import steel almost to meet domestic demand.
According to the regulations of the Government of the Philippines, to be imported, products require a certificate of conformity to this country’s standards. The Philippines standard system is the PNS system, which is now mandatory for some steel products such as Galvanized, Pre-painted Galvanized, Galvanized pipes, tubes, etc.

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Chủ Nhật, 29 tháng 9, 2019

Since the US introduced the tax policy for steel products under Section 232 up to now, the wave of trade defense has become a measure to protect domestic production in many markets around the world and create a Great difficulty for exporting countries like Vietnam.
According to the Vietnam Steel Association, from the beginning of 2019 until now, the export steel output has decreased by about 50% and the average price has dropped to about 650USD/ton.....
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Thứ Sáu, 27 tháng 9, 2019

MoiT Has Issued a Decision to Exempt Anti-Dumping and Safeguard Duty for Some Factories

On May 31, 2017, the Ministry of Industry and Trade issued a decision to apply safeguard duties on imported pre-painted steel products from effect until June 15, 2020.
On June 18, 2019, the Ministry of Industry and Trade continued to issue a decision on the imposition of provisional anti-dumping duty on pre-painted steel imported from China and Korea.
However, recently the Chamber of Commerce and Industry under the Ministry of Industry and Trade has received applications for exemption from the application of anti-dumping and safeguard measures for imported colored steel. On September 11, 2019, the Ministry of Industry and Trade issued a Decision on exemption from the application of anti-dumping and safeguard measures with a total volume of 16,294.9 tons for the following enterprises:

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Thứ Năm, 26 tháng 9, 2019

Vietnam Steel Mill Is One of The Most Considerable Suppliers for Brazil Buyers

Brazil buyers have many choices of steel suppliers all over the world because Brazil is one of the most potential steel market up until now.
In particular, Brazilian civil construction activity grew in August, rose to 49.2 points, compared to 47.8 points in August 2018, which is the benefit to both domestic distributors and global suppliers.
However, Brazilian flat steelmakers have recently announced to domestic distributors an 10%  increase in their prices for early October. “By October 7, all flat steel producers should start applying new prices”, according to India president Carlos Loureiro on Tuesday September 24. There are two main reasons of this case. First is the reduced competition from imported material. Second is the removing discounts that have been granted to domestic buyers.

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Thứ Tư, 25 tháng 9, 2019

World Steel News September 2019

World Steel News September 2019
There is no historical movement in world steel news September 2019, so let’s review output of some steel industries as well as HRC price levels offered to the marker in this September 2019.
U.S. Raw Steel Output Slipped 3%
According to American Iron and Steel Institute (AISI), The U.S. weekly raw steel output reported marginal decline during the week ended on September 21, 2019....


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Mexico Has Announced to Change Their New Policy in Import Tariff

On September 20, 2019, Minister of Finance and Public Credit – Andrés Manuel López Obrador and Minister of Economy – Arturo Herrera Gutiérrez signed a decision to amend the Import Tariff of steel items in effect since September 23, 2019.
Under the old policy, the import tax of steel items to the Mexican market was 0%. This is seen as an open-door policy without over-selecting the import source of this market. Because of the 0% import tariff, Mexico has become a lucrative market for steelmakers around the world and affecting domestic production, as well as sources of imports from allied countries of Mexico.
Realizing this, from the beginning of 2019, since the new government came to power, Mexico has been preparing to change the import tax policy to rearrange the source of imported goods into this market.


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