Hsin Kuang Steel, one of the major steel service centers in Taiwan announced that its February sales revenues totaled NT$484 million, falling by 47.39% from a month ago and decreasing by 24.54% year on year.

The company pointed out that the dropped sales revenue in February was caused by fewer working days in the period but its average selling prices were higher than the prices in January.

Hsin Kuang Steel expected to have better sales in March, supported by improved steel market prices and longer working days.