Chung Hung Steel Corporation (CHSC), a Taiwan-based carbon steel producer under China Steel Corporation (CSC), forecasts steady growth in the global steel market as geopolitical tensions ease.

At the shareholder meeting today (May 22), Chairman of the Board Min Chu explained that despite early-year energy and shipping cost spikes from Middle East conflicts, global economies show resilience. The World Steel Association (worldsteel) forecasts that worldwide steel demand will increase by 0.3% this year and another 2.2% next year, led by stabilization in China, recovery in Europe, and robust growth in India.

Regional supply shortages have also driven up prices and created export opportunities. Furthermore, China's new export permit regulations and crackdowns on low-cost domestic competition balance regional supply.

In Taiwan, a booming AI sector drives corporate expansion, supporting steel consumption across real estate, public infrastructure, and industrial construction.