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CSC’s profit slumps 23% on month in May

China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, saw its pre-tax profit for May slump by 23% from April to reach TWD 1.7 billion ($55.1 million), according to a company release on June 24.
The month-on-month decline in CSC’s profit was mainly due to the substantial increase in the company’s production costs, Mysteel Global was told. “We have to admit that the rising iron ore price has had a significant impact on the profit margins of blast-furnace steelmakers,” a CSC official commented. Data from Mysteel’s database showed that the

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