Taiwan’s carbon steel producer China Steel Corporation (CSC) plans to release its June domestic pricing ahead of schedule tomorrow, May 12. This decision is in line with a broader growth across Asian steel markets and surging raw material costs.

Major mills in Vietnam, Hoa Phat and Formosa Ha Tinh Steel, recently raised hot-rolled coil rates significantly, and South Korean export offers reached new highs.

Market participants anticipate a sixth straight monthly hike as iron ore and coking coal prices rise. Global iron ore reached US$112.05 per ton, pushing production costs higher for manufacturers. Supply constraints in China and South Korea, coupled with demand from Middle Eastern reconstruction, further tighten the regional market.

By moving early, CSC aims to stabilize expectations and secure orders for the second half of the year amidst this cost-driven environment.