New Best Wire Industrial, one of the major carbon, alloy and stainless steel wire products makers in Taiwan has announced its second-quarter consolidated sales revenue totaled NT$1.285 billion, soaring by 25% from a quarter ago.
However, due to the dropping steel wire price, New Best has to list its loss from its in stock inventory by around NT$20 million.
Therefore, its second quarter gross profit rate might be lower than in the first quarter.
For the prospect, New Best said its third quarter wire product sales could stay firm but the selling price might lower than they expected.
The company might receive more orders from its electro-polishing tube business.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65690&division=A6
