Taiwan’s China Steel Corporation (CSC) sales volumes decreased across the board with the volume of carbon steel decreasing 8.5pc to 10.28mn mt in 2019 from 11.24mn mt in 2018. Domestic sales slipped from 70pc in 2018 to 68pc in 2019.
CSC reported a revenue of NT 366.24bn ($12.057bn) in 2019, a decrease of 8.6pc compared to the previous year. Steel products made up 77.1pc of the total revenue. followed by non-steel industry material at 10pc, construction at 6.6pc, trading and logistics at 3.9pc, and service and others at 2.4pc.
The company’s operating income in the same period declined by 62.5pc to NT 12.57bn (US $414mn) and income before taxes decreased 59.9pc to NT 12.80mn (US$421mn).
According to the company’s website, CSC has crude steel production of about 10mn mt annually, CSC produces a range of products including plates, bars, wire rods, hot and cold rolled coils, electrogalvanized coils, electrical steel coils, hoip galvanized coils, and Ti/Ni-base alloy. CSC approximately exports 30pc of its production. Mainland China and Japan are its top two export destinations.