The steel market has seen a strong rebound, driven by favorable policies such as US interest rate cuts and China's reserve requirement ratio reductions. Steel prices surged sharply at the end of September. As the traditional peak season, October, begins, demand was expected to remain strong, with market participants projecting an optimistic short-term outlook for the steel market.
After hitting a 7-8 year low, China's steel prices rallied following the US' first interest rate cut in four years and China's announcement of policies to stimulate the real estate market. Taiwan's China Steel Corporation (CSC) expected the steel market to stabilize, supported by continued monetary easing in both the US and China, boosting liquidity, investment, and consumer spending in the coming months.