[SMM Steel] Vietnam’s Hoa Phat drives Asian HRC price rally higher

SMM News Flash:  [Sheets & Plates] HRC export prices today rose 8-10 USD/tonne DoD, while other sheets & plates prices increased 6-10 USD/tonne, driven by a sharp rally in futures. As it was the first working day after the holiday, most sellers reported quite strong market inquiries. However, due to the rapid price increase, acceptance outside China was lukewarm, and actual transaction prices may still have been at pre-holiday levels. [India] Major Indian steelmakers increased domestic HRC and CRC prices by around 11 USD/tonne for early May sales ahead of planned maintenance shutdowns. Domestic HRC prices rose to around 620-640 USD/tonne EXW, while CRC reached 697-722 USD/tonne.

[SMM Steel] Australia’s Anti-Dumping Commission (ADC) officially initiated an anti-dumping investigation on April 30, 2026 into galvanized steel imports from Vietnam and South Korea. The products under review are zinc-coated flat steel products with thickness ranging from 0.3mm to 3.5mm, in coil or sheet form, with zinc accounting for at least 50% of the coating composition. The case raises the risk of future anti-dumping duties if Australian authorities determine that low-priced imports caused injury to domestic producers. Vietnamese authorities advised exporters to closely monitor the investigation, prepare export pricing and production cost data, and strengthen legal defense strategies as global trade protection measures continue to increase.

[SMM Steel] Global steel and raw material prices continued rising in April 2026, with HRC, billet, scrap, and iron ore prices increasing 6.3–18.9% YoY, while coking coal surged 30.1% YoY. Imported US HMS 1/2 80:20 scrap prices to Vietnam rose 7.1% MoM and 13.8% YoY, while imported HRC prices also increased sharply in late April. In Vietnam, domestic HRC prices increased by around VND 900–988/kg, and coated steel prices continued rising with some mills raising prices 4–5 times during the month due to higher input costs. Against this backdrop, VNSTEEL’s total finished steel consumption in the first four months of 2026 increased 16.9% YoY, with long steel sales rising 30% and metal products growing 37.4%, supported by improving domestic construction and infrastructure demand.