Flats: Vietnam’s hot-rolled coil (HRC) market saw upward momentum in March, following the implementation of provisional anti-dumping duties on Chinese-origin HRC. Effective 8 March, the Ministry of Industry and Trade imposed duties ranging from 19.38% to 27.83% on Chinese HRC products with a width of up to 1,880 mm. 

Longs: The Southeast Asian rebar import market experienced a slight improvement in March, buoyed by firmer sentiment following China’s “Two Sessions” meetings and widespread market chatter about steel production cuts. While the policy meetings did not yield significant immediate support for the steel sector, optimism around supply-side discipline provided some lift to regional trading activity.

Semis: In March, billet markets in both ASEAN and China saw price fluctuations driven by a combination of overseas demand, shifting scrap prices, and regional construction steel market dynamics. 

BF Raw Materials: Seaborne iron ore prices fluctuated throughout March, driven by conflicting signals from China’s steel sector. Initial support came from news of production cuts, but weaker-than-expected economic data ultimately undermined market confidence.

EAF Raw Materials: The Kanto Tetsugen monthly Japanese scrap export tender saw prices increase in March compared with February. In the tender, Toyota Tsusho Material was awarded 15,000t of Japanese H2 grade scrap for shipment by 30 April at JPY 44,226/t ($299/t) fas, or about $306/t fob Japan. 

Country Trade Data:

• Singapore
• Thailand
• Philippines
• Malaysia
• Indonesia
• Vietnam

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