Chung Hung Steel, one of the major carbon steel rerolling mills and welding pipes manufacturers in Taiwan said since the current market demand is weak, they have to find out some other ways to make profits and save the costs.

The General Manager of Chung Hung Steel said that the firm has targeted to save costs by NT$150 million in 2013. Firstly, the company will save the scrap loss from its import slab sources. Chung Hung Steel said about 87% of its production costs are coming from slab source; thus, the company will try to increase the qualify rate on it hot roll coils and limit its loss from scrap in order to achieve its target of saving NT$150 million in this year.