Taiwanese Yusco & Tang Eng's revenue declines in H1
Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, posted its revenue of around NT$2.86 billion in June, a year-on-year decrease of 20.39% and a month-on-month increase of 2.3%. The cumulative revenue in the first half of this year was around NT$18.43 billion, sliding by 16.03% from the same period a year ago.
Tang Eng Iron Works Co., Ltd., another major stainless steel manufacturer in Taiwan, posted its June revenue of roughly NT$992.9 million, a year-on-year decrease of 3.82% and a month-on-month increase of 9.31%. The cumulative revenue from January to June this year was roughly NT$5.49 billion, falling by 12.78% over the same period a year earlier.
Due to the increasing nickel prices, the two main upstream stainless steel companies were expected to have higher revenues afterward as they both have hiked their monthly stainless steel prices for three consecutive months, and their operating performance will be better in the second half of this year.
