Taiwan’s upstream stainless steel manufacturers Yieh United Steel Corporation (Yusco) and Tang Eng Iron Works Co., Ltd. (Tang Eng) reported their stabilized first-half revenues. This steady performance resulted from consecutive monthly list price hikes since December last year, driven by rising nickel prices and high production costs.
Yusco generated NT$18.85 billion in the first six months of this year, slightly down by 0.18% year on year. Tang Eng reported its consolidated revenues of NT$5.29 billion during the same period, a year-on-year increase of 3.03%.
The individual records in June showed solid momentum. Yusco pulled in NT$3.89 billion, rising by 5.6% from May. Tang Eng brought in NT$705.5 million, extending its year-on-year growth path for a second consecutive month.