According to Argus, Asian ferrous steel and scrap prices are projected to rise in the fourth quarter of 2024, driven by Beijing's economic stimulus, increased demand, and supply disruptions. The Chinese steel market has shown an upward trend since late September, following measures from the People's Bank of China to support the property sector, which has led to a rebound in seaborne steel prices. However, softer demand in Taiwan and South Korea may temper this optimism. In Vietnam, local steelmakers expect a stronger market due to increased public investment spending, while rising scrap prices are anticipated as supply disruptions loom in the U.S. Nonetheless, challenges remain in Taiwan and South Korea due to operational costs and declining domestic demand.