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Taiwanese Tang Eng has losses in sales performance due to high nickel price in 2018

13 Jun 2019 15:36 reported by Jordan Huang

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Tang Eng Iron Works Co., Ltd., one of the main stainless steel manufacturers in Taiwan, announced its financial report on June 12th. There was a total deficit of around NT$2.9 billion last year because of the high nickel price which led to higher costs.

However, Tang Eng believed that the nickel price was expected to stay at the low level in the third quarter of this year, but the stainless steel market was hoped to be great again in the last quarter in 2019.

To increase the net profit, the company not only relied on the recovered nickel price but also activated the idle assets to create the extra income.

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