Taiwan's leading steel companies are optimistic about the steel market in 2024

At the Investor Conference organized by China Steel Corporation (CSC), Chung Hung Steel Corporation (CHSC) and China Steel Structure Co (CSSC), considering the current international economic conditions, steel supply and demand, raw material costs and future additional carbon tax, It was stated that it would be difficult for steel prices to decrease and that the steel market would display an optimistic outlook next year.

CHSC President said that the global steel market is facing high costs and low demand this year, and a recovery is expected in 2024 after customers melt their stocks and the Chinese economy recovers.

CSC President pointed out that the recovery in the steel market will be more optimistic compared to this year. Worldwide steel demand is expected to increase by at least 2.0% in 2024, with an increase of approximately 40 million tons in steel demand.