Taiwan’s largest steelmaker China Steel Corporation (CSC) has announced that in September this year its carbon steel sales volume totaled 834,731 mt, decreasing by 5.5 percent from August due to slackening demand in both domestic and foreign markets, accounting for 65 percent of domestic sales. The company’s sales were also affected by hot rolled steel imports coming from India mostly.
In September, CSC’s operating revenues amounted to NTD 28.93 billion ($945.7 million), falling by seven percent compared to August. In the given month, the company’s operating income totaled NTD 597.28 million ($19.52 million), decreasing by 48 percent from the previous month.
According to the news from the market, CSC is evaluating whether to apply for an antidumping investigation on imported hot rolled coil from India.
Exports of HRC from India to Taiwan totaled 53,500 mt in September, while they amounted to just 1,400 mt in September 2018, according to the Steel Ministry of India. According to preliminary figures, the high level of imports from India is likely to continue in October and November as well.