December 02, 2008

CSC Q1 pretax profit falls by 9.4% YoY

Bloomberg reported that China Steel Corp had a 9.4% decline in Q1 pretax profit after costs climbed. Profit before taxes was TWD 14.3 billion (USD 472 million) in the three months to March 31st 2008 as compared with TWD 15.8 billion a year earlier.

It said that costs of importing coking coal used in steelmaking surged by 16% from a year earlier to USD 130.77 a tonne in the first two months of the year.