The price of hot-rolled coil (HRC) in Asia increased compared with last week. Asian steel mills with blast furnaces have also increased their prices for July delivery, mainly due to the high cost of raw materials rather than the boost in market demand.

In addition, China's steel exports in April decreased by 670,000 tons compared with the previous month, easing sales pressure. Meanwhile, some Japanese mills have also raised its offer a lot. If the price trend could be maintained, reasonable prices are expected to return in the next quarter.

The suspension of the production line at the Tokyo Steel Tahara plant may also affect export volumes. However, the plant's main market is Europe and will have a slight impact on supply and demand in Asia.