It’s reported that Taiwanese Hsin Kuang Steel's second-quarter gross sales profit rate decreased from 9.31% in the first quarter to become 5.17% due to dropping steel market price.
However, since Hsin Kuang Steel has done the well control on its stock level, the company did not have to list the stock loss in the second quarter of this year and helped its second-quarter sales profit stay firm.
For the third quarter, because several of China's major steel mills have announced to hike for new price, it will help Taiwanese steel market prices to rise.
Accordingly, the market analyst expected the current market situation may help Hsin Kuang Steel to have better gross sales profit rate in the third quarter.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65899&division=A6
