China Steel Corp. (CSC), the largest steelmaker in Taiwan posted sales revenues of NT$15.4 billion for November, falling by 2.13% from a month ago. However, the company posted profits before taxes of NT$707 million for November, soaring by 22.77% year on year and increasing by 16.29% from a month ago. In the first 11 months of this year, CSC’s sales revenues dropped by 13.56% year on year to NT$1.919 hundred billion and its profits before taxes were at NT$5.305 billion, slumping by 78.25% year on year. Meanwhile, the company’s production in the first 11 months of this year totaled around 7.70 million tons. Its sales volumes were at 8.06 million tons, among 5.33 million tons were for domestic market and 2.73 million tons were for export markets. CSC pointed out that the global steel prices have bottomed out, driven by the rising prices of raw materials such as scraps and iron ores.
