Steel Pail Raw Material Information: Vietnam And US Steel Market Situation

Vietnam Hoa Fat raises hot coil quotation by US$25/ton from June to July

According to the latest quotation of Hoa Phat Steel's hot coils from June to July, it has increased by US$25/ton from the last time. The latest quotation is US$576-578/ton CIF Ho Chi Minh, which is in line with the pre-market increase expectation of US$20-30/ton.

U.S. plans to increase tariffs on Chinese steel and aluminum products

On April 17, U.S. President Biden said in a speech to the United Steelworkers Union in Pittsburgh that China's large number of low-cost exports of steel and aluminum products are destroying the U.S. market and endangering the development of U.S. manufacturing, which is a key component of its economic agenda. At the core, we hope to significantly increase some tariffs on Chinese steel and aluminum products.