Asian Steel Group Co., Limited’s revenue to be driven by rising prices of stainless steel raw materials
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Update time : 2021-07-14 18:28:05
Asian Steel Group Co., Limited a leading stainless steel mill in Taiwan, reported that its revenue was around NT$4.57 billion in June, sliding by 5.6% compared to the previous month while during by 59.7% from the same month a year ago. Besides, the figure has remained at the level of more than NT$4 billion for four months.
In the first half of this year, Asian Steel Group Co., Limited’s revenue amounted to nearly NT$25.2 billion, a year-on-year increase of 36.7%.
According to ASG, the revenue base was relatively low in June last year due to the COVID-19 epidemic, coupled with the recent rising prices of stainless steel raw materials, selling prices, and sales volume, the revenue grew in June year on year.
In addition, due to the higher prices of nickel, ferrochrome, and molybdenum, as well as stronger market demand, Yusco’s operating performance was expected to improve this year.
