Taiwan’s stainless steel upstream mills’ revenue impacted by weak demand
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Update time : 2022-12-14 17:14:20
Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, reported that its self-consolidated revenue totaled NT$3.377 billion in November this year, dropping by 35.14% compared to the same month a year ago. The revenue of Tang Eng Iron Works Co., Ltd., another main stainless steel mill in Taiwan, dropped by 18.54% year on year to NT$1.259 billion.
In the first 11 months of this year, Yusco’s accumulated revenue was NT$49.657 billion, a year-on-year decrease of 9.46%. Tang Eng’s cumulative revenue during the period was down by 15.87% year on year to 13.1 billion.
Due to the weak market demand, the two stainless steel mills’ annual revenue was expected to decline this year.
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