During this time, the company's consolidated operating income rose by 33% year-on-year to NTD 1.02 billion (approximately USD 36 million), while pre-tax profit surged by 147% year-on-year to NTD 2.15 billion (about USD 76 million). This growth is credited to higher gross profit within the steel industry and increased sales volumes.
In April, carbon steel sales reached around 680,000 tons, contributing to a total of 2.66 million tons sold from January to April. The rise in pre-tax net profit was also supported by increased dividends from mining investments and reduced foreign currency exchange losses.
On a global scale, the economy is slowly recovering, with the OECD projecting a 3.1% growth rate for 2024. Taiwan's economy expanded by 6.31% in the first quarter, driven by robust export momentum. Similarly, in China, economic stimulus measures resulted in a 5.3% growth rate in the first quarter, accompanied by April's manufacturing PMI of 50.4. The global steel market maintains stability as supply constraints are alleviated and demand rises.
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