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I-Shou Lin: Stainless steel market improves, steel industry to be stable in 2023

6 Feb 2023 16:42 reported by Joy Liu

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I-Shou Lin, the founder of E United Group, said that the drop in stainless steel, carbon steel, and raw material prices started in the second half of last year eroded the profits of the steel industry.

The steel industry was at a low point in the fourth quarter of 2022 and it was expected to be relatively stable this year. Among them, the stainless steel market has improved first, and carbon steel has also become stable since January this year.

As for the impact of Taiwan’s government's policy to reduce property speculation on the steel market, I-Shou Lin said that 90% of the group’s steel production is used in consumer products and has little relation with the construction industry. However, he also said that a good economy would benefit not only the construction industry but also the steel industry.

I-Shou Lin added that there are still many uncertainties in the global market, which continue to affect the development of the international economy.

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