Quintain Steel, one of the major steel wire products manufacturers in Taiwan announced that the after tax loss in June totaled NT$78 million, decreasing from May.
Due to the dropping steel price Quintain Steel has to list large quantity loss in inventory and it was the major reason to cause the loss in June.
The situation also caused Quintain Steel to lose NT$153 million in the whole of the second quarter.
For the prospect, Quintain Steel said that the steel prices might bottom out soon and the company's July order received quantity has increased.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65464&division=A6
