Yesterday's steel price delivered in January 2023 on the Shanghai Exchange increased 72 yuan to 3,620 yuan / ton.
Steel price for delivery in May 2023 on the Shanghai Exchange increased by 37 yuan, to 3,619 yuan/ton.
Data from the Vietnam Steel Association (VSA) showed that domestic steel production and consumption was at a low level in the third quarter. Specifically, steel production in the third quarter reached 6.7 million tons, down 18% compared to the previous quarter and down 7% compared to the same period in 2021. Steel consumption reached 6.1 million tons, down 12% from the previous quarter and flat compared to the third quarter of 2021.
Accumulated in the first 9 months, finished steel production reached 20.8 million tons, down 6% over the same period in 2021; finished steel consumption reached 19.2 million tons, down 2% over the same period in 2021.
Up to the time of publishing this report, most steel enterprises have announced their financial statements for the third quarter. Revenue of the 8 largest steel enterprises in turn reached 59,274 billion dong, down 19%; profit after tax was negative 3,317 billion dong.
In which, the 5 largest capitalization enterprises, Hoa Phat (HPG), Hoa Sen (HSG), Nam Kim (NKG), Thai Nguyen Iron and Steel (TIS) and SMC Steel (SMC) all recorded profit after tax. minus. Especially, Hoa Phat had the second quarter of recording negative profit after tax after nearly 12 years of positive growth.
Elsewhere, the gloomy steel business at the end of the year led to a long slide in the price of steel stocks.
Hoa Sen Group Joint Stock Company (Code: HSG) has just announced its financial report for the fourth quarter of the fiscal year 2021-2022 (from July 1 to September 30), with ineffective business results. In which, net revenue reached more than 8,100 billion dong, down sharply compared to the same period last year reaching 15,900 billion dong; profit after tax was negative 886 billion dong, while the same period last year was positive 940 billion dong. Accumulated financial year (from October 1, 2021 to September 30, 2022) with net revenue of more than VND 49,700 billion, a slight increase over the same period; profit after tax reached VND 251 billion, down 94% compared to the same period in the fiscal year 2020-2021 when the profit reached VND 4,300 billion.On the stock market, at the end of the session on November 10, HSG shares reached VND 8,700/share, down 80% from the peak in mid-October 2021 and down 77% from the peak in 2022 at the end of the March
HSG shares slid along with steel stocks recently. Due to the business results of the whole steel industry are increasingly dismal after booming in the second and third quarters of last year. Steel industry profits continued to decline, the following quarter was lower than the previous quarter, culminating in a record loss in the third quarter.
It is estimated that the total profit of steel companies listed on the floor in the third quarter was negative more than 4,700 billion dong, also the lowest level in many years.
HSG is a loss-making enterprise second only to Hoa Phat, and also the first quarter that HSG reported a loss.
Domestic steel prices have been flat for the past 1 month.
Steel price yesterday 14/11 recorded the domestic steel price unchanged from 12/10.
Thus, it has been 1 month, the domestic steel price has not changed.
In the North, Hoa Phat steel price with CB240 coil line is at 14,500 VND/kg; D10 CB300 rebar is priced at 14,600 VND/kg.
Vietnam Italy steel brand, currently CB240 steel coil at 14,510 VND/kg; D10 CB300 rebar line is priced at 14,720 VND/kg.
Viet Duc Steel, currently CB240 coil line remains unchanged at 14,350 VND/kg; and D10 CB300 rebar is priced at 14,660 VND/kg.
Viet Sing Steel, currently CB240 coil at 14,310 VND/kg; D10 CB300 rebar is priced at 14,510 VND/kg.
Viet Nhat Steel adjusted to reduce prices, with CB240 coil line down 200 dong, priced at 14,310 dong/kg; rebar D10 CB300 at 14,510 VND/kg.
In the Central region, Hoa Phat steel, with CB240 coil line at 14,310 VND/kg; D10 CB300 rebar is priced at 14,820 VND/kg.
Viet Duc Steel, currently CB240 coil line is at 14,620 VND/kg; D10 CB300 rebar is priced at 15,020 VND/kg.
Viet My Steel (VAS), with CB240 coil at 14,260 VND/kg; D10 CB300 rebar is priced at 14,360 VND/kg.
Pomina Steel, CB240 coil line is at VND 15,730/kg; however, the D10 CB300 rebar is priced at VND 15,940/kg.
In the South, Viet My Steel (VAS), CB240 coil line decreased by 100 dong to 14,310 dong/kg; and for D10 CB300 rebar, the price is 14,410 VND/kg - down 310 VND.
Hoa Phat Steel, CB240 coil line is still at 14,360 VND/kg; Meanwhile, D10 CB300 rebar is priced at 14,570 VND/kg.
Pomina Steel, with CB240 coil line at VND 15,580/kg; D10 CB300 rebar is priced at 15,680 VND/kg.