Taiwan’s largest steelmaker China Steel Corp has announced that it will keep domestic steel prices unchanged for January and the following quarter. The company said it made the decision to help customers manage raw material costs amid seasonal demand weakness and uncertainty in global markets.
CSC expects demand to be subdued in the first quarter of 2025 due to the Lunar New Year holidays and uncertainty ahead of the inauguration of US President-elect Donald Trump. However, the company remains optimistic that the global steel market will recover after two years of contraction.
Domestically, Taiwan’s industrial output has increased for eight consecutive months, boosting demand for manufacturing facilities, machinery and servers, supporting domestic steel consumption.
In the first 10 months of 2024, CSC generated pre-tax profits of NTD 3.75 billion (USD 114.8 million), an increase of 41% y-o-y, driven by gains from mining investments. However, operating profit decreased by 34% to NTD 944.5 million (USD 28.9 million), while revenue declined by 1% to NTD 301.88 billion (USD 9.24 billion).
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