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Taiwanese Tang Eng cuts stainless domestic prices for July
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Tang Eng, one of the major stainless steel producers in Taiwan announced to slash the domestic and export prices of its stainless steel products by NT$1,500/ton and US$50/ton respectively for July.
Meanwhile, the firm also decided to reduce its production capacity rate to 50%, from 60% in a month earlier.
In a month earlier, the firm operated at around 60% of its production capacity which was at 28,000~30,000 tons at its Kaohsiung works.
According to an official of Tang Eng, as its received order volumes have dropped, it has to reduce the production.
The official indicated that the rising cheap imports of stainless steel coils into the Taiwanese market also forced the firm to cut prices and lower production.
News Date
7/5/2012 1:46:10 PM
reported by
Nann Cheng
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