Taiwan’s Tang Eng: Stainless steel prices already touch bottom now
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Update time : 2020-06-19 21:48:49
According to the announcement from the chairman of the Tang Eng Iron Works Co., Ltd, the second-largest stainless steelmaker in Taiwan, the future of stainless steel might be better than last year in the next half of this year, mainly caused by the economy in the world has turned to better.
By the content of the financial report from Tang Eng Iron Works Co., Ltd, its total turnover of 2019 was around NT$13.7 billion, lower than the previous goal.
The main reason for that pessimistic situation in 2019 was about the fluctuated nickel prices in the world and also threatened by the low-price stainless-steel dumping from Indonesia, both hurt the Taiwanese stainless steel manufacturers.
However, Tang Eng Iron Works Co., Ltd was currently very optimistic about the future of the stainless steel industry, and it believed the price already touched the bottom now.
