I-Shou Lin, the chairman of Yieh United Steel Corp. (Yusco) and the founder of E United Group, said that Yusco is now actively carrying out a major transformation at its production line.

He said that the international steel market last year has been fully uncertain mainly affected by the Russia-Ukraine war and the Israel-Hamas war. If the war can end early, the post-war reconstruction can begin as soon as possible, and the European economy will be expected to drive up steel demand.

The oversupply of nickel, a raw material for stainless steel making, led to a weak trend in stainless steel prices in 2023, especially in the second half of last year. However, China’s policies to stimulate the economy were expected to drive the industry and the stainless steel market this year.