Taiwan's Tang Eng plans to cut production by 20% in Apr
2 Apr 2020 13:14 reported by Jasmine
Under the impact of the novel coronavirus outbreak, steel demand significantly weakened. Following China Steel Corp. (CSC)'s cut in production, Taiwan's Tang Eng Iron Works Co., Ltd. expected to cut production by 20% in April.
The two large upstream steel mills of carbon steel and stainless steel in Taiwan have cut production, showing that the steel market was increasingly severe.
Tang Eng General Manager Zhongjie Zhang said that affected by the outbreak, the market gas disappeared, although the company's products were almost all domestic sales, the setback in the downstream export also affected its sales.
Due to this, the firm's April initial decision to reduce production by 20% was in principle, but the exact reduction will be decided according to the actual demand in the market.
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