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Increasing Nickel Price Indirectly Boosts Sheh Kai’s Sales
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2014-11-03
Benefited by the short supply of nickel around the world, Sheh Kai, the bimetal screw manufacturer, demonstrates flourishing business that is better than the corresponding period last year and expects to achieve another high point by the year end. During the first 10 months of this year, Sheh Kai’s accumulated revenue for each month showed the annual growth rate of 8-24% and the production and sales results continued to be prosperous with non-stop profit. The share of Sheh Kai increased NT$0.6 to close at NT$31.8 on Oct. 31st.
 
The management of Sheh Kai pointed that last year the operation of Sheh Kai was affected by the antidumping duty at 23.6%, which the EU imposed on stainless steel fasteners originated from China and Taiwan. However, Sheh Kai has been successfully excluded from the duty after it made the appeal to the EC. Sheh Kai would like to “take back all orders it had lost last year.” On the other hand, as the stainless steel price is greatly influenced by the nickel price, many authoritative market research institutes forecast that by 2015 or 2016 the short supply of nickel around the world will touch the extreme point, though the prices of nickel and stainless steel will slightly fluctuate ups and downs in the short term, they will continue to grow in the long term, which is actually favorable to Sheh Kai.
 
The bi-metal scerws of Sheh Kai are mostly sold to Europe. After the victory of its appeal for the antidumping case, it is now ready to gradually take back 30% of the market share in Europe.
 
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