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China Steel Corporation Posts Loss in January

Steel News - Published on Mon, 17 Feb 2020

Image Source: ATI
Taiwanese steel giant China Steel Corp has reported a loss in January 2020 for a third consecutive month as revenue hit its lowest monthly level in more than three years. The company last month incurred pre-tax losses of NTD 1.26 billion (USD 42 million) on a consolidated basis, compared with pretax losses of NTD 1.02 billion the previous month and pretax income of NTD 2.16 billion a year ago. Operating losses were NTD 1.09 billion, down from NTD 1.18 billion a month earlier and compared with operating income of NTD 2.36 billion a year earlier. CSC’s consolidated revenue dropped 17.18 percent from NTD 29.1 billion in December last year to NTD 24.1 billion. On an annual basis, revenue shrank 33.19 percent from NTD 36.08 billion. The company attributed the decline in revenue to fewer working days due to the Lunar New Year holiday, as well as to lower product prices.

Meanwhile, January shipments were 811,988 tonnes, down from 882,824 tonnes in December last year

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Posted By : Nishith Sharma on Mon, 17 Feb 2020
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