Yieh Phui Enterprise Co., Ltd. (Yieh Phui), a leading coating steel mill in Taiwan, is moving towards the development of green steel and will focus on transformation and upgrading to improve the company’s competitive advantage.

Yieh Phui said that the World Steel Association (WSA)’s forecast for steel demand recovery of 1.7% in 2024 and demand growth of 1.2% in 2025 indicated a continued improvement in the steel market.

However, the overall steel inventory reduction in China is limited, and terminal demand hasn’t improved significantly, so the steel market remains weak. Despite this, the recent increase in flat steel prices in the US may drive demand in the fourth quarter of this year.

Looking ahead, in spite of the weak economy in China affecting the world, countries are gradually starting interest rate cuts, so it is expected to drive global economic recovery and make the steel market rebound.