The domestic demand forecast was cautiously optimistic, according to market sources, led by stronger increased spending for the infrastructure market.

In the week ending on December 31, 2022, US domestic raw steel production was 1,602,000 net tons while the capability utilization rate was 71.8 percent.

Hoa Phat Group has signed a contract to export 10,000 tonnes of steel wire in coil form to Europe.

In November alone, production of finished steel reached over 1.82 million tonnes.

Finished Import Market Share YTD at 24%

US hot rolled coil (HRC) spot prices moved down as the market remained quiet due to the Christmas holiday.

Finished Import Market Share Estimated at 23 Percent in December.

However, the net debt to equity ratio of steel companies is still significantly better than in the 2010-2019 period.