Chaodong Weng, chairman of China Steel Corp. (CSC), the largest carbon steel manufacturer in Taiwan, foresaw increases in the demand for steel as governments around the world gave subsidies on infrastructure construction projects after the COVID-19 epidemic is gradually stabilizing. The steel demand was expected to be strong in next one or two years.

Chien-Chih Hwang, CSC Executive Vice President, said that a report from World Steel Dynamics (WSD), a leading steel information service, forecasted that steel prices would rise in the first half of next year due to rebounding demand in China, while the price rebound might weaken in the second half of the year.

However, whether the price will fall or not will depend on global decarbonization policies and if steel prices could be upheld by high commodity prices continuously.