Taiwan's largest steelmaker China Steel Corporation (CSC) has announced that its preliminary accumulated consolidated operating revenues for January-April 2024 totaled NT$ 126,455,650 thousand, up 2.2% year-on-year. Its carbon steel sales volume in the first four months reached 2,641,946 tons.
CSC's operating income for the period amounted to NT$ 1,022,058 thousand, compared to a profit of NT$ 761,744 thousand recorded in the same period of 2023. The company's profit before income tax increased on a YOY basis, mainly due to higher unit gross profit, increased steel sales volume, higher dividends from mining investments, and foreign exchange gains.
The global manufacturing industry is recovering steadily, and the high interest rate environment is coming to an end, helping demand return to the right track of growth. Worldsteel expects global steel demand to grow by 1.7% in 2024, with demand increasing by approximately 30.1 million tons. China has also continued to launch various revitalization policies to boost economic vitality and drive the manufacturing industry into an upward cycle.
