【SMM Steel】Iran's Mobarakeh, Sefid Dasht steel plants hit by strikes on Mar 31, suffer heavy damage

[SMM Steel] Vietnam's domestic coated steel and pipe market is entering a sharp upward price cycle in early April 2026. Major players including Vnsteel Thang Long and Nam Kim Steel have announced significant price hikes ranging from 300,000 to 600,000 VND/mt. This trend is primarily driven by Hoa Phat increasing its Hot Rolled Coil (HRC) prices by 900,000 VND/mt, alongside rising logistics and operational costs. The Ministry of Construction has since intervened, requesting local authorities to monitor prices and prevent speculation to stabilize the construction sector.

[SMM Steel] South Korea’s Ministry of Land, Infrastructure and Transport has officially approved the development of a 1.34 million m2 site for POSCO’s hydrogen-based steel plant in Pohang via coastal reclamation. The project, including the HyREX pilot facility, targets a 300,000 mt annual capacity by 2028 and is a cornerstone of South Korea’s strategy to commercialize hydrogen steelmaking by 2030.

[SMM Steel] Vietnam’s Ministry of Industry and Trade announced a 27.83% provisional anti-circumvention duty on wide-width hot-rolled coil (HRC) imports from China, effective April 17, 2026. The measure covers HRC with widths 1,880–2,300 mm under 24 HS codes, following findings that imports were modified to bypass existing trade remedies. Certain high-carbon steel and plates thicker than 10 mm are exempted.