CSC reports first loss in 47 years on low revenue
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China Steel Corp (CSC) reported its first loss in 47 years, with a pretax loss of NT$4.684 billion due to declining sales volume and lower operating revenue. The company faced challenges from Chinese oversupply and US tariffs. Despite eight months of losses, CSC posted a profit last month, driven by improved steel business profitability and offshore wind farm investments. Revenue fell to NT$317.155 billion, with steel shipments down to 7.38 million tonnes. CSC anticipates a recovery in the domestic steel market, aided by a recent trade deal and rising demand in AI and semiconductor sectors.
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Source: Taipei Times The copyright of this article belongs to the original author/organization.
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