Dae Yang Metal Achieves Highest August Sales Amid Strong Market Conditions... Growth Trend Continues

[Asia Economy Reporter Lim Jeong-su] Daeyang Metal (CEO Cho Sang-jong), a manufacturer of stainless steel cold-rolled steel sheets (STS CR), announced on the 8th that it is expected to set a new monthly sales record in August following July.

Daeyang Metal has completed the development of new stainless steel products for home appliances such as dryers, heat exchangers, and dishwashers, continuing its rapid growth. In particular, the introduction of the 'wide slitter' prepared since last year has increased productivity and diversified the product line.

The timing of Daeyang Metal's factory expansion and new facility investment is expected to accelerate further. A Daeyang Metal official explained, "With the increase in home appliance consumption due to COVID-19, the demand for stainless steel products has surged," adding, "We plan to expand facility investments to respond to the growing demand and link it to sales growth."

Profitability is also expected to improve. As China's crude steel production in July fell to the lowest level in 15 months, there is an analysis that the possibility of price increases for steel products will grow.

A Daeyang Metal official said, "With the continued growth due to favorable business conditions, the highest sales in August are expected," and added, "We anticipate improved profitability in the second half of the year due to consecutive positive factors such as increased demand for home appliances and rising steel prices."

Meanwhile, Daeyang Metal is preparing a hydrogen fuel cell business to secure new growth engines. In July, it signed an MOU for the hydrogen fuel cell business with Hylium Industries, a specialized liquefied hydrogen mobility platform company that holds the only domestic original technology in liquefied hydrogen production, storage, transportation, and stabilization.