After a year of weakness, the Asian steel market is showing clear signs of recovery ahead of the Lunar New Year. Supported by rising raw material costs, a stronger Chinese yuan, and accelerating restocking demand from Europe and Asia, prices are moving upward.
China’s tighter export controls have reduced aggressive dumping, while Vietnamese mills have raised prices for two consecutive months. Import offers to Taiwan are climbing, and supply shortages are emerging as buyers replenish inventories.
After announcing price hikes for March, Taiwan’s China Steel Corporation (CSC) indicated that April rates may have even larger increases. Market participants expect stronger momentum once the post-holiday demand season begins.