Combined shipments from China Steel Corporation (CSC) and Dragon Steel Corporation (DSC) fell to 778,000 tons in February, a seven-month low due to the Lunar New Year holiday. Despite a decline compared to the previous month, the figure surpassed the 700,000-ton target.

The market showed strong exports but weak domestic demand. Domestic sales dropped to 357,000 tons, while exports rose to 421,000 tons due to delayed January orders. CSC said that while local buyers initially kept inventories low, clarity on US tariffs has stimulated replenishment.

Chia-Cheng Lee, Vice President of Commercial Division at CSC, expected that global demand would rise as the Fed rate cuts boost investment. In Europe, PMIs are recovering amid expectations for reconstruction after the Ukraine situation stabilizes. Meanwhile, China's new export licenses and production cuts should help stabilize Asian steel prices.