The global steel market has decided to be more optimistic due to stimulus policies from countries and easing COVID-19 restrictions.
The Chinese government has eased strict Covid-19 restrictions and housing policy. The country tried to support all the industries that faced difficulties, including the real estate industry, to improve the economy.
In the U.S., the demand for vehicles, homes and household appliances has increased. After the increase, the US decided to implement infrastructure projects.
The iron ore market has begun to recover, and prices have increased by 50% by the end of last year.
The decrease in energy prices has made the steel market more optimistic and the demand for raw materials for steel production has increased.