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Encouraged by Wire Rod Price Rise, Tycoons Corporation's November Revenue Reached New High in the Last 8 Months
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2012-12-12
Benefited from reviving distribution rate of wire rods, Tycoons' Novemebr revenue reached 252 million (a 2.4% increase compared to October), which marks the best record in the last 8 months. According to Tycoons, with the emerging demand for stockpile before Chinese New Year, wire rod shipment is still in good condition in December, and purchase orders will stay visible until February next year.
Tycoons main products include wire rods and bolts. Wire rods (mainly for domestic sales) consist 50 to 60% of company's revenue, while bolts (mainly for foreign sales) consist around 30 to 40%.
Also benefited from the drop of domestic wire rod distribution in October, the company's October revenue reached 246 million, a substantial 109.61% increase compared to September. Moreover in November, the wire rod quote for January and February next year seized dropping and stimulated domestic bolt clients to keep ordering, motivating tycoons' Novemebr revenue to go through minor rise.
In prospect of December, Tycoons states that wire rod shipment will remain good. However, an observation on Christmas holiday's influence on shipment is still required because wire rods and bolts mainly focus on foreign markets. Fortunately, purchase orders will stay visible until February next year with the stablized wire rod price.
With steel price turning stable and steel plants as well as distributors restoring stockpile, Tycoons claims that the first quarter of steel market next year will be "brilliant" and the condition for the first half year will remain positive.
Tycoons main products include wire rods and bolts. Wire rods (mainly for domestic sales) consist 50 to 60% of company's revenue, while bolts (mainly for foreign sales) consist around 30 to 40%.
Also benefited from the drop of domestic wire rod distribution in October, the company's October revenue reached 246 million, a substantial 109.61% increase compared to September. Moreover in November, the wire rod quote for January and February next year seized dropping and stimulated domestic bolt clients to keep ordering, motivating tycoons' Novemebr revenue to go through minor rise.
In prospect of December, Tycoons states that wire rod shipment will remain good. However, an observation on Christmas holiday's influence on shipment is still required because wire rods and bolts mainly focus on foreign markets. Fortunately, purchase orders will stay visible until February next year with the stablized wire rod price.
With steel price turning stable and steel plants as well as distributors restoring stockpile, Tycoons claims that the first quarter of steel market next year will be "brilliant" and the condition for the first half year will remain positive.
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