CSC, Taiwan’s largest steelmaker, is still affected by China’s overcapacity in steel production.
China Steel Corp.’s first-quarter earnings were in line with preliminary results announced previously, with EBIT declining 6.1% year over year to TWD 6.04 billion. Despite the higher steel selling price achieved, EBIT margin in the steel division declined to 4.2% from 5.0% in the same period last year. This was due to lower utilization rates at its steel plants and the higher procurement cost of semi-products. EBIT margin in the nonsteel division declined to 5.5% from 7.0% in the same period las...China Steel is engaged in the manufacture and sale of steel products and machinery, transportation and electrical machine engineering contracting. Through its subsidiaries, Co. is engaged in the provision of transportation services; the manufacture and sale of aluminum products and other non-ferrous metal products; common and equity investment; the development and rental of non-current assets; the provision of guard and system security services; the design of software system; the manufacture, purchase and sale of magnetic powder; the provision of enterprise management advisory services; the design for environmental mechanical and electrical engineering; and waste management.
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