Chih Lien Industrial Co., Ltd., one of the major manufacturers in steel bars and wires in Taiwan, said the company's January combining sales revenue was 194 million NT dollars which has risen 82.73% Y-O-Y.
Chih Lien said the major reason is because they have received more orders in January. The market analyst expected that since Taiwan's China Steel Corp. has increased its wire prices for this March, Chih Lien might be able to earn for higher profit from its low-price raw material and help its sales to improve.
Moreover, due to the rising steel price, Chih Lien's buyers have also restarted their purchase for stock, this activity will help Chih Lien's Q1 sales revenue and profit has both improved.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63197&division=A9
