Financial Information

II. Market dynamics
Geopolitical tensions in the Middle East have re-emerged, and international crude oil prices are expected to remain on an upward trajectory. Inflationary risks have increased in the U.S., while Europe has adopted interest rate hikes to address inflationary pressures. Meanwhile, China continues to face persistent weakness in its property market. Taiwan's economy has shown a K-shaped development, with strong export performance from the advanced technology supply chain supporting a recovery in industrial production, whereas traditional industries continue to encounter growth headwinds. In the steel market, price trends have diverged across major regions. In the U.S., supported by tariff policies and solid domestic demand, hot-rolled coil prices have remained at relatively high levels. In the EU, the reduction of duty-free import quotas for steel products has tightened market supply and lent support to local steel prices. In Asia, however, the market has entered the traditional seasonal slow period, with weaker demand and a more cautious purchasing sentiment among market participants.