Taiwan's Yieh Hsing: Automobile industry recovery to drive wire rod demand
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Update time : 2020-10-09 16:19:38
The general manager of Yieh Hsing Enterprise Co., Ltd., Senlong Chen, said the global automobile market is getting better now, which brings the increased demand for screws and wire rod.
This year, the downstream industries of wire rods, especially the automobile industry were affected badly by the coronavirus situation. However, the world countries are taking measures to resume their economies and the automobile industry has been getting better evidently.
Mr. Chen also said the increase in steel prices in China brought the prices to increase in the whole Southeast Asia market and now the prices from the European and American markets also went up.
Where the steel market will go in the future depends on whether the pandemic can be controlled well.
