Taiwanese CSC posts earnings in March
Reportedly, Taiwanese China Steel Corp. (CSC) posted pretax earnings of NT$329 million in March, terminating operating losses for three consecutive months.
Despite of selling 810,000 metric tons of steel products in March, CSC still had to rely on non-core businesses for earnings due to high production cost in the same month.
Institutional investors believe that CSC will post revenue gains in the second quarter because of the increasing wholesale prices on products for April and May delivery and expected decline in production costs of said to be more than NT$500/ton.
It is predicted that the wholesale prices on CSC's major products for June delivery to remain at the same level as in the month earlier, indicating a slow-changing in steel market.
News Date 17 Apr 2012 09:45:44 reported by Ren Jhuang