Taiwanese steelmaker China Steel Corporation reported a 2.38pc rise in sales of carbon steel to 822,458mt in May from the preceding month, according to a company statement. Sales volume rose by 12.6pc from May 2020.
In May, consolidated operating revenue rose by 8pc to TWD39,718,469 from the prior month, consolidate income before tax stood at TWD7,626,755; up 24pc from a month ago. In Jan-May, consolidated operating revenue stood at TWD7,626,755 and consolidated income before tax stood at TWD26,895,108; a rise of 38pc and 848pc, respectively.
The company states that the rise in steel sales was on account of a strong recovery in the steel market.
CSC has raised its third-quarter (Q3 2021) listed prices by TWD2,000-2,900/mt ($72-105/mt) to pass on the increased input costs due to bullish raw material prices. The quarterly prices were raised to follow the global trend in the steel market.