Yusco & Tang Eng’s 2021 revenue benefited by high nickel prices
11 Jan 2022 16:03 reported by Joy Liu
Despite the weak stainless steel market at the end of last year, the revenue of Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream suppliers in Taiwan, sill hit new highs in recent years as the international nickel price rebounded to the US$20,000/ton level.
Yusco’s revenue in 2021 had a year-on-year increase of 57.02% to around NT$59.49 billion, hitting a new high in recent years. Yusco said that the increase was due to a low base in 2020 during the COVID-19 epidemic and higher prices of raw materials and stainless steel.
Tang Eng's revenue last year totaled around NT$16.8 billion, up by 55.26% year on year, a four-year high. The performance was owing to high nickel prices and the recovered demand in overseas markets.
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