Reported about 1 year ago
Chen Jianyu / Kaohsiung Report on June 11, 2024, at 4:10 pm, CSC reported a May revenue of NT$31.914 billion, unexpected year-on-year and monthly decreases of 2.58% and 2.41% respectively. CSC stated that the increased rainy days in May and China's intensified crackdown on tax evasion through steel exports since late April led to domestic prices rising but prevented CSC from further raising prices set in April, impacting revenue. However, with global steel market stability, CSC may maintain flat prices in July, potentially surpassing May revenue if June experiences fewer rainy days. The industry believes that maintaining prices during the recent decline in Asian hot-rolled coils indicates a chance for CSC to exceed May's shipments and revenue if market conditions remain stable.
Source: YAHOO