Taiwan’s upstream stainless steel manufacturers, Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works, saw their February revenue rebound, posting both year-on-year and month-on-month growth.

Yusco reported a February revenue of about NT$3.64 billion, hiking by 36.51% year on year and rebounding by 16.6% month on month. For the first two months of the year, accumulated revenue totaled around NT$6.75 billion, up by 10.35% from the same period of last year.

Meanwhile, Tang Eng recorded about NT$898.05 million in consolidated revenue for February, a year-on-year increase of 18.18% and a 41.73% rebound from January. However, cumulative revenue for the first two months of this year stood at around NT$1.53 billion, down by 9.4% compared to the same period last year.

As both steelmakers raised prices by NT$1,000 for February and March, respectively, and with more business days in March, the performance in March is expected to continue improving.