STEEL PRICE MOVEMENTS IN 2019 10
Construction steel prices on March 25 continue to fall in the context of conflicting information about supply disruption from the world's leading mineral producer - Vale SA.
Construction steel prices continue to go down
Steel prices for May delivery on the Shanghai Exchange dropped 34 yuan to 3,727 yuan / ton at 10:30, March 25, Vietnam time.
The chairman of mining giant Rio Tinto (Australia) said he was not worried about the slow growth of the Chinese economy and saw a lot of opportunities in the world's second largest economy.
"As expected, China's economic growth rate is slowing, even 6 - 6.5% growth is considered a huge number," Jean-Sébastien Jacques, Rio's CEO Tinto spoke at the China Development Forum in Beijing on Saturday (March 23).
This can be considered the outstanding achievement of the domestic steel industry when previously imported hot rolled steel up to 6 million tons, worth more than 3 billion USD to serve the needs of producing galvanized steel and steel pipes. . In the future, steel imports will continue to decline as Vietnam moves towards full autonomy of hot rolled steel supply thanks to Formosa and Hoa Phat.