The hot-rolled steel market in Asia still hasn't shown any signs of growth. Although prices have risen due to production cuts in China's four provinces, Guangdong, Guangxi, Sichuan, and Shandong, the uncertainty of China's steel export tariffs and the decreased demand by lockdown in Southeast Asia remained the market weak.

Vietnam is the main driver of hot-rolled steel demand. However, the market has slowed down due to the worsening epidemic in Asia. Fortunately, China's production cut issue has stabilized recently, while Malaysia and Indonesia's lockdown has eased slightly, so it is worth watching whether these two advantages will spark price hikes.