Hoa Phat Steel announced that it has increased the base rate of hot-rolled coil (HRC) for the April-May delivery, which is the first increase after continuous price cuts. 

China's HRC has been imposed a temporary anti-dumping duty of around 19%-28% by the Vietnamese authority, and the implementation date is March 7. Therefore, Chinese steel mills can only withdraw from the market, and then Japan, Taiwan, PT Dexin Steel Indonesia, Eastern Steel Sdn Bhd, and India have become new competitors. 

Downstream distributors said that Hoa Phat Steel's new price is reasonable, and the anti-dumping duties have encouraged this price increase.