After China's Two Sessions, Chinese steel participants were disappointed because no major economic stimulus policy was proposed. However, Taiwan's China Steel Corp. (CSC) believes that the economy is still the focus of China's policy.

China's fiscal target is 5% economic growth in 2024. GDP growth is highly interconnected to steel consumption, and the government is increasing the scale of bond issuance. Relevant infrastructure construction is expected to be a major driving force for the growth of steel demand in 2024. China's steel industry has a chance to resume an upward trend in the second quarter.