Taiwan's Chun Yu forecasts screw market to recover in Q2 2023
30 Nov 2022 17:14 reported by Stanley Wang
At the earning results conference, Chun Yu Group, a Taiwanese screw manufacturer, belonging to Taiwan Steel Group (TSG), indicated that Taiwan's screw market in the first quarter of next year would be at a low level and recover in the second quarter.
The Russia-Ukraine war continues and many countries are facing high inflation. With the Covid-19 lockdown in China, the development of the real estate market in Western countries and the global economy is slow, further decreasing demand.
The carbon neutral issue makes steel manufacturing costs high. Regarding the demand side, the market in Indonesia keeps perspective, and the global stocks are at a low level.
Also, the EU imposed anti-dumping duty on China's screws, which benefited Taiwan's screw exports to the EU. Besides, after the 20th National Congress of the Communist Party of China, China was expected to implement stimulated economic policies.
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