East Asia’s steel industry is hoping that China’s economic stimulus measures and United States import tariffs may boost the market after a slow post Lunar New Year restart.
MEPS market analyst Chris Jackson discussed the major issues facing the region as he shared insight from the latest International Steel Review in this month’s episode of the Market in Minutes podcast.
Jackson said: “The majority of steel consuming sectors in these countries are performing more weakly than anticipated. There’s little expectation of a demand recovery in the next six-to-12 months. But [the likes of Japan, South Korea and Taiwan] are looking at China very closely to see what will happen there and see if that might act as a catalyst for the short to medium term.”
Jackson also suggested that the blanket roll out of 25% import tariffs in the United States could level the playing field for exporters, presenting a “mouth watering opportunity” for some East Asian steel producers.
Part of MEPS’s regular Speaking of Steel podcast series, Market in Minutes delivers regular summaries of the key global steel markets researched by the steel market insight and price data provider.
The latest episode explores the influence of various factors on steel demand and prices in East Asia, while also providing a summary of the International Steel review’s six-month outlook for in the region.