Chun Yu to Keep Positive Growth in H2 2022
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On markets in China, Europe and the U.S., Chun Yu said China has gone through the worst of the lockdown. The Chinese demand will come back and Chun Yu will regain its normal sales performance in China in the second half of the year. The company maintains a certain level of growth in the U.S. and Europe despite decelerated growth in these regions.
The war between Russia and Ukraine affects the global steel industry. Particularly, both the countries supply wire rods to the world. Reduction in steel supply pushes up steel price. Higher inflation and higher steel materials (coal and iron) cost contribute to price hike. As the U.S. and China embark on infrastructure construction, demand will rebound, and EU's anti-dumping tax on China's fasteners provides Taiwanese fastener companies with an edge in sales to Europe.