China Steel`s July Earnings Down 8.44% for 4-month Low

Resource from: CBCC Likes:2904

Aug 23,2010

Due to the downtrend in prices of steel products in the Asian steel market, China Steel Corporation (CSC), Taiwan`s largest integrated producer of steel products, posted NT$4.316 billion in pretax earnings in July, down 8.44% from the preceding month for a four-month low, with the steel maker expected to see continued revenue decline in August due to higher priced iron. An institutional investor said CSC`s pretax earnings declined monthly after peaking at NT$5.241 billion in March, with worse earnings expected to come after July. Using low-priced raw materials as iron enabled CSC to score between NT$1.6 and NT$2 billion in earnings from core business in July. The company is expected to post only NT$2 billion in September earnings, halve of the present level. Institutional investors noted CSC will reduce its earnings goal to NT$40 billion from the original NT$45 billion. With CSC facing tough challenges from the weakened steel market, other smaller listed steel firms will also be unable to see better performance for the rest of this year, realizing consolidation of the domestic steel industry for some time.

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Linqing City Seized 20 Boxes of Fake Bearings
Next Luoyang LYC Bearing Co., Ltd Comprehensively Start the Joint Venture Work

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.