Taiwanese China Steel Corp. vice president for sales indicated that the current weak demand for screws was attributed to downturns in the real estate, automotive, and machinery sectors. The decline was primarily due to businesses maintaining low inventory levels and the impact of high interest rates.

Despite these challenges, the vice president remained optimistic attitudes because interest rates were beginning to decline, and the probability cease of the Russia-Ukraine war could drive reconstruction and investment, further boosting screw market demand in the future.