CSC’s Nov profit slumps 22%, steel sales down 2.9%

The pre-tax profit for China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, saw a large drop of 22% month on month in November, mainly due to the impact of lower steel prices both in Taiwan and in the global market, a company official confirmed on December 18.

CSC’s report released on Monday showed that for November, the company’s pre-tax profit came in at TWD 2.8 billion ($90.3 million), representing a substantial decline from the TWD 3.6 billion the company recorded for October, though on-year, the result was almost the same. However, for the first eleven months of this year, the Kaohsiung