Market participants initially anticipated a slight increase in Vietnam Hoa Phat Steel's April price for hot-rolled coil (HRC), but the latest announcement indicates the base rate will remain flat, primarily due to low-price competition from Indian steel mills. Therefore, this new rate may be a sign for China Steel Corp. (CSC) to avoid a subsequent excessive price increase that could have a negative impact. 

Although Indian steel mills have not yet quoted prices to Taiwanese buyers, if the rumored price increase in April is too large, some downstream manufacturers may be concerned about high distribution prices in the domestic market, potentially attracting competition from Indian suppliers. 

However, some industry players indicate that Indian HRC is not favored by Taiwanese buyers, and given the small demand in the market, imported HRC may still lean towards South Korean HRC.