Chung Hung Steel, one of the major carbon flat steel rolling mills and the major welding pipes manufacturers in Taiwan, said its combined sales revenue was NT$3.21 billion in this August, increasing slightly by 0.83% from a month ago and soaring by 10.57% year on year. The company's August sales volumes totaled 178,000 tons, 2,000 tons lower than 180,000 tons in July. Meanwhile, Chung Hung Steel's sales revenues in August increased as its August average sales prices were higher than July. In the end of the second quarter, Chung Hung Steel has listed its loss on inventory by NT$390 million. Since Chung Hung Steel has increased its price in this August and September, the company may have chance to cancel out this expenditure in the end of the third quarter and make its September sales to become profitable.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66237&division=A6
