Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, reported its consolidated revenue of NT$15.34 billion for March, up by 0.9% year on year, the third consecutive month of year-on-year growth. Though slightly dropping by 0.6% from February, the revenue has remained above NT$15 billion for two months in a row.
In the first quarter of this year, the company’s consolidated revenue totaled NT$44.88 billion, a year-on-year hike of 10.7%. The performance growth in March and the first quarter was driven by higher global copper prices, stainless steel price hikes, and the inclusion of DMV in consolidated revenues.
Despite a drop in the recent global nickel prices, Walsin Lihwa’s stainless steel prices rose by NT$4,000 for April, which might lead to potential continued growth for the month, though the outlook remains cautious.