Unlike many other business sectors that have suffered heavy losses, the steel industry is expected to benefit from the Sept. 21 earthquake for at least the next two years, according to industry experts. The market research section of China Steel (
According to Wang Chung-yu (
The steel industry's fortunes hit rock bottom in the first quarter of this year. With Taiwan and the region's gradual recovery following the financial difficulties over the past few years, the steel industry started to recover from the second quarter of the year. Indeed, the recovery was so strong that in July, China Steel's output of steel products reached the highest monthly output on record for the company. However, the dumping of H-shaped beams and rebars from other countries has kept the prices of these products very low.
The major steel products used for construction include rebars, H-shaped beams, angle bars, and steel structures. According to industry sources, the damage caused by the earthquake will create extra demand for around 2 million metric tons of rebars. Taiwan's regular yearly demand for rebars is around 5 to 6 million metric tons.
With the added demand, rebar prices have risen from about NT$7,200 per metric ton before the earthquake to NT$7,800 now. The price for H-shaped beams has increased from NT$9,300 per metric ton to NT$10,000.
Although steel prices are likely to continue to rise, several manufacturers say that they will not use the increased demand caused by the earthquake to raise steel prices for their own gains. With respect to this, Taiwan's Steel and Iron Industries Association has even set up a hotline for customers to file complaints over hiked steel prices.
Furthermore, to help people made homeless by the earthquake to rebuild their houses, steel manufacturers have agreed to give the priority to providing steel for rebuilding their houses.
According to Robinson Yang, (
In response to the increased demand for steel products, the TAIEX steel sub-index has risen from 63.39 before the earthquake to 68.35 yesterday.
Conflict with Taiwan could leave China with “massive economic disruption, catastrophic military losses, significant social unrest, and devastating sanctions,” a US think tank said in a report released on Monday. The German Marshall Fund released a report titled If China Attacks Taiwan: The Consequences for China of “Minor Conflict” and “Major War” Scenarios. The report details the “massive” economic, military, social and international costs to China in the event of a minor conflict or major war with Taiwan, estimating that the Chinese People’s Liberation Army (PLA) could sustain losses of more than half of its active-duty ground forces, including 100,000 troops. Understanding Chinese
The Ministry of Foreign Affairs (MOFA) yesterday said it is closely monitoring developments in Venezuela, and would continue to cooperate with democratic allies and work together for regional and global security, stability, and prosperity. The remarks came after the US on Saturday launched a series of airstrikes in Venezuela and kidnapped Venezuelan President Nicolas Maduro, who was later flown to New York along with his wife. The pair face US charges related to drug trafficking and alleged cooperation with gangs designated as terrorist organizations. Maduro has denied the allegations. The ministry said that it is closely monitoring the political and economic situation
UNRELENTING: China attempted cyberattacks on Taiwan’s critical infrastructure 2.63 million times per day last year, up from 1.23 million in 2023, the NSB said China’s cyberarmy has long engaged in cyberattacks against Taiwan’s critical infrastructure, employing diverse and evolving tactics, the National Security Bureau (NSB) said yesterday, adding that cyberattacks on critical energy infrastructure last year increased 10-fold compared with the previous year. The NSB yesterday released a report titled Analysis on China’s Cyber Threats to Taiwan’s Critical Infrastructure in 2025, outlining the number of cyberattacks, major tactics and hacker groups. Taiwan’s national intelligence community identified a large number of cybersecurity incidents last year, the bureau said in a statement. China’s cyberarmy last year launched an average of 2.63 million intrusion attempts per day targeting Taiwan’s critical
AGING: As of last month, people aged 65 or older accounted for 20.06 percent of the total population and the number of couples who got married fell by 18,685 from 2024 Taiwan has surpassed South Korea as the country least willing to have children, with an annual crude birthrate of 4.62 per 1,000 people, Ministry of the Interior data showed yesterday. The nation was previously ranked the second-lowest country in terms of total fertility rate, or the average number of children a woman has in her lifetime. However, South Korea’s fertility rate began to recover from 2023, with total fertility rate rising from 0.72 and estimated to reach 0.82 to 0.85 by last year, and the crude birthrate projected at 6.7 per 1,000 people. Japan’s crude birthrate was projected to fall below six,
RSS