CENS quoted Mr JC Tsou chairman of China Steel Corporation as saying that Taiwan's iron and steel industry will see better performance in the second half as the turning point falls in the second quarter of 2012.

Admitting the European sovereign debt crisis will impact the iron and steel industry in the months to come, Mr Tsou said that the industry will bottom in the first quarter as the supply and demand for the global iron and steel market gradually stabilizes.

The iron and steel industry faces a tough challenge in the first quarter due to the global financial crisis. Although prices of raw materials as coal and iron ore have yet to fall significantly, Mr Tsou is still confident that the industry can weather the poor external operating climate, calling for operators to enhance marketing and cut production costs.

Believing the industry to have better prospects after the third quarter, Mr Tsou encourages operators to step up product differentiation to boost international competitiveness.

(Sourced from www.cens.com)