China Steel Corporation (CSC), the largest carbon steel manufacturer in Taiwan, reported that the company’s consolidated operating income was around NT$28.22 billion in July, down by 7% compared to the previous month. The pre-tax net loss was NT$401.5 million, compared to a net loss of NT$35.03 million last month.
The company in question stated that the decrease in operating income was due to the decrease in unit selling price and gross profit in the steel segment.
In the first seven months of this year, CSC’s cumulative operating income reached approximately NT$214.92 billion, a year-on-year decrease of 25%. The accumulated pre-tax net profit was NT$1.28 billion, down by 96% year on year.