China Steel Corporation (CSC), the largest carbon steel manufacturer in Taiwan, posted a month-on-month increase of 2.1% and a year-on-year growth of 0.5% in its revenue in December last year, in line with market expectations.

It was predicted that the benefits of the global steel market sector transfer will become obvious in 2025, and non-Chinese market demand will be driven by India, Southeast Asia, Central and South America, and the Middle East Africa, which will reduce the impact of weak Chinese demand.

After four years of decline in Chinese market demand, the increase was expected to narrow this year, and global demand was also predicted to bottom out and rebound, consistent with the World Steel Association’s (WSA) forecast. WSA estimated that even if China's demand decreases by 1%, global demand will still increase by 1.2%.

Additionally, rising raw material prices and increased carbon reduction costs will also support the outlook for steel prices, with global steel demand expected to recover in 2025.