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The oversupply problem has made the Taiwanese coating steel mills worry about the steel market in the first quarter of next year even though some market participants expect the demand might become better next year. Yieh Phui's manager said that the firm’s received order volumes from the US and Southeast Asian markets have recovered; however, the steel prices did not rise substantially due to oversupply in China. At the same time, Sysco, the other major coating mill in Taiwan said most of Chinese steelmakers have worried about the oversupply problem. Therefore, both Yieh Phui and Sysco are cautious about the steel market in the first quarter of next year. |