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Taiwanese CSC expects another quarterly net loss
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It’s reported that Taiwan's China Steel Corp. (CSC) expected another quarterly net loss for the second quarter ending June 30th 2012.
CSC posted a net loss of NT$712.2 million in the first quarter ended March 31st 2012 due to the dropped global demand and high raw material costs.
Mr. Tsou Jo Chi, the Chairman of CSC said at the company's annual shareholders meeting that it will continue to invest in more iron ore and coal mines abroad in order to further lower feedstock expenses.
It is expected to reach its target of cutting annual operating costs by US$140 million this year.
News Date
6/19/2012 6:24:40 AM
reported by
Ren Jhuang
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