Reported 8 months ago
CSC held its shareholders' meeting on June 19, 2024, where Acting Chairman Wang Hsi-Chin mentioned challenges in the steel industry, primarily due to excess steel production in mainland China. However, the situation is gradually improving, with expectations of a stronger steel market in the second half of the year compared to the first half, and a better year compared to the previous one. CSC achieved a turnaround to profit last year with consolidated revenue of NT$363.3 billion and pre-tax profits of NT$4.5 billion. Looking ahead, global steel demand is forecasted to reach 1.7 billion metric tons with a 1.7% annual growth. Wang also highlighted CSC's efforts in carbon reduction, positioning the company favorably compared to European standards. CSC is focusing on enhancing its operational resilience and product value, aiming to become a smart and sophisticated steel plant that prioritizes downstream and customer interests while promoting a transition to a low-carbon supply chain in the Taiwanese steel industry.
Source: YAHOO