Chinese steel mills are seeing their presence in the Asian hot-rolled coil (HRC) market shrink as more countries adopt anti-dumping measures. Taiwan, South Korea, and Vietnam have all introduced restrictions, creating a shift in regional trade flows.

The gap left by Chinese suppliers is significant—an estimated 9 to 9.5 million tons per year. This supply shortfall has pushed HRC prices higher across Asia and opened opportunities for competitors. India, along with emerging ASEAN steel producers, is moving quickly to capture orders and expand their market share.

Customs data highlights the trend clearly. In 2024, Vietnam imported about 9.2 million tons of Chinese HRC, while South Korea brought in around 1.6 million tons between 2023 and 2024. Taiwan added another 740,000 tons in 2024. With these volumes declining, no single steel producer can dominate the market, leaving space for multiple players to compete on both price and delivery.

For buyers, the market is becoming more fragmented and competitive. ASEAN mills, in particular, are making aggressive offers at lower prices to secure contracts. As Chinese exports retreat, the Asian HRC market is entering a new phase of realignment, with regional producers stepping in to meet demand.