Posted on 15 Jul 2021
China Steel Corp (CSC, 中鋼) yesterday posted revenue of NT$38.83 billion (US$1.39 billion) for last month, a 62.32 percent year-on-year increase, but a 2.23 percent month-on-month decline.
Despite the month-on-month decrease, the company said that last month was its second-best month for revenue.
In the first six months of the year, revenue was NT$213.27 billion, up 41.68 percent year-on-year, CSC said.
The company’s production is still “full steam ahead,” but export volume slid to 1.08 million tonnes last month, compared with 1.15 million tonnes in May and 1.17 million tonnes in April as the rainy season caused logistics problems combined with a shortage of shipping containers, it said.
CSC is to announce domestic prices for its products later this month, and the company said it opted to keep prices for some products steady after 12 consecutive months of increases.
There would still be “room for increases” in prices of other products due to a “considerable gap” between international steel prices and CSC’s prices for domestic delivery, the company said.
CSC nevertheless balances a mandate to stabilize domestic steel prices without letting it slide too far from international levels, it said.
Looking ahead, the company said that demand for steel would remain strong as the global economy roars back, which has been boosting international steel prices and the cost of raw materials such as iron ore.
Source:Taipei Times
