China Steel eyes turnaround by year’s endBy Natasha Li / Staff reporter, in KaohsiungChina Steel Corp (CSC, 中鋼) yesterday said it aims to turn business around by the end of the year by improving post-pandemic market demand and new product developments. China Steel Corp chairman Wong Chao-tung, standing, presides over a company shareholders’ meeting in Kaohsiung yesterday. “We need to set our focus on top-quality and high-precision steel products [in order to maintain growth],” he said. “Major steel companies have slashed production since the second quarter, including us, by 10 percent, in an attempt to stem losses,” Wong said. Citing recent price hikes from Chinese, Japanese and South Korean industry peers, Wong said market demand is showing signs of recovery.

Source: Taipei Times June 19, 2020 15:56 UTC