Reported 12 months ago
Yeh Hui, a major plating factory, announced flat domestic prices for zinc-coated and painted steel products for July, with a $20 decrease for August's export prices. Looking ahead, Yeh Hui expressed optimism for steel demand to grow in the second half of 2024 amidst a global economic easing cycle and monetary stimulus, aiming to stabilize the steel market. Market trends indicate potential growth in steel demand as economies stabilize and stimulus policies take effect, with global steel production slightly decreasing in early 2024. Factors affecting the market include seasonal fluctuations and geopolitical tensions, prompting leading steel manufacturers in Asia to maintain stable pricing to bolster market confidence.
Source: YAHOO