On October 18, Taiwan's largest steelmaker China Steel Corporation (CSC) stated that its profit before tax in the third quarter of the current year totaled $179.2 million, decreasing by 46 percent from $331.5 million in the second quarter this year. CSC cited its lower sales volume and higher costs of raw material as the factors behind the decrease in its profits.
Meanwhile, CSC's total revenue in Q3 amounted to $2.05 billion, down from $2.11 billion in Q2.