Taiwan’s China Steel Corp. (CSC) reported consolidated revenue of NT$27.948 billion in August, up by 12.97% year on year. The company’s consolidated revenue for the first eight months of the year reached NT$225.67 billion, representing a 3.81% increase from the same period last year.

CSC said the improvement was mainly supported by the gradual recovery of global supply chains and higher average selling prices for steel products compared with the same period last year. Steady demand from downstream industries, particularly the automotive and steel structure sectors, also contributed to higher shipment volumes and revenue during the first half of the year.

As the traditional off-season comes to an end, market conditions are expected to improve in the fourth quarter, which is typically a peak season for the steel industry. CSC has also raised its list prices for the fourth quarter, reflecting expectations of firmer market conditions. The company expects its overall operating performance for the year to exceed that of last year.