Conflicts between Russia and Ukraine are still at a peak when allies and supporters of Ukraine have been imposing sanctions on Russia. This affects the global economy, especially 3 main industries that could benefit from this event, including steel.
Statistics of BSC (BIDV Securities Joint Stock Company) show that Russia is ranked second in steel exports to the EU. If sanctions are applied, it is possible that it will lead to insufficient supply and a sharp increase in steel prices in the coming time.
Despite the climb in steel prices, this will be an opportunity for other manufacturers to enter this market. Especially those experienced in exporting like Hoa Sen Group. Therefore, BSC has a positive assessment for stocks of companies exporting steel and galvanized steel to the EU market if this market cuts down on steel imports from Russia and Belarus since Ukraine cannot maintain output due to the war.