Reported 9 months ago
Chen Jianyu/ Reported from Kaohsiung on June 26, 2024, at 4:10 PM, Chung Hung (2014) held a shareholders' meeting where the company expressed optimism about steel prices gradually returning to normal in major regions (Europe, America, Asia) due to factors like high raw material costs, increased terminal restocking activities, strengthening price intentions from European and American steel plants, improved market conditions with reduced disruptions from low-priced sources, and government actions in China. Despite a decrease in production volume, Chung Hung saw an increase in sales volume last year and turned a profit with net earnings after tax of 159 million NT dollars and EPS of 0.11 NT dollars. The company expects a positive steel market outlook in the second half of this year and anticipates a global steel demand rebound of 1.7% to 1.793 billion tons this year and a further growth of 1.2% to 1.815 billion tons next year, supported by monetary easing and economic policies in China promoting stability and recovery in steel demand in Asia.
Source: YAHOO