[SMM Steel] Steel market outlook improves amid policy support and tighter supply

Published: Apr 8, 2026 19:30

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[SMM Steel] Price increases by Hoa Phat Group and Formosa Ha Tinh Steel, alongside Vietnam’s 27.83% anti-circumvention duty on Chinese HRC, have supported regional sentiment. Meanwhile, Section 232 of the Trade Expansion Act tariff adjustment reduced duties on derivative products to 25%, while core tariffs remained 50%. Combined with China’s capacity control policies and higher raw material costs linked to Middle East tensions, supply is tightening, leading market participants to expect a gradually improving steel market outlook.

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