Chung Hung Steel optimistic about market outlook
3 Dec 2021 17:11 reported by Alston Tsai
Chung Hung Steel's net profit after tax in the first three quarters of this year reached NT$5.444 billion, a record high since the establishment of the factory.
However, market participants said that Chung Hung Steel's November shipment was only 160,000 tons, which was the lowest monthly delivery this year. The price drop in China, the impact of shipping space, and freight rates have affected recent sales.
Chung Hung Steel believed that as global vaccines are widely used and economic recovery is driven, steel demand will gradually rebound. In addition, coupled with China's offer increasing slightly, the trend in the Asia market has a chance to stop falling, so Chung Hung Steel is optimistic about the market outlook.
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