en.Wedoany.com Reported - China Steel Corporation (CSC), a leading steel enterprise in the Taiwan region, announced its self-assessed profit and loss data on June 22, 2026. In May 2026, its consolidated pre-tax net profit reached NT$1.354 billion (approximately US$42 million), a month-on-month increase of 179%, hitting a 46-month high and achieving a year-on-year turnaround from losses. Cumulatively, for the first five months of 2026, CSC's consolidated pre-tax net profit stood at NT$873 million, officially breaking free from the loss predicament since the beginning of this year.
Founded in 1971 and headquartered in Kaohsiung City, Taiwan, China Steel Corporation is the largest steel producer in the Taiwan region. The company primarily engages in the production and sale of carbon steel and stainless steel products, covering items such as steel plates, bars and rods, hot-rolled coils, cold-rolled coils, coated sheets, and electrical steel coils. With an annual crude steel production capacity exceeding 10 million tons, it is a key pillar of basic industry in the Taiwan region.
In May alone, CSC's consolidated revenue was NT$29.955 billion, down 3% month-on-month but up 2.2% year-on-year. Consolidated operating profit reached NT$1.529 billion, a month-on-month increase of 147%, also turning from a loss to a profit compared to the same period last year. Steel product shipments for the month totaled 673,561 tons. CSC stated that the significant profit growth in May was primarily driven by increased sales volume and unit gross profit in the steel business, leading to a notable rise in operating profit. Although non-operating income decreased due to reduced dividends from mining investments, it did not affect the overall improvement in profitability.
From an industry perspective, tightening global steel supply drove up international steel prices in the second quarter. In mainland China, crude steel production in the first four months of 2026 fell by 4.1% year-on-year, and steel exports dropped by 9.7% year-on-year, with export control measures limiting outflows. Meanwhile, conflicts in the Middle East led to reduced production and sharp declines in exports from Iranian steel mills, further tightening global supply and pushing international steel prices significantly higher in the second quarter. However, after the recent surge, international steel prices have entered a phase of high-level consolidation with divergent trends.
Senior management at CSC noted that overall profitability in the first four months of this year remained unsatisfactory, mainly because some shipments were still based on old orders with unit prices below current levels. As steel prices continue to rise, the unit prices of subsequent orders are gradually increasing, improving the overall profit situation, and the company is optimistic about overall profitability in the second quarter. Looking ahead to the second half of the year, CSC believes that if the third quarter can smoothly navigate the traditional off-season, the fourth quarter peak season still holds great potential. This turnaround marks CSC's return to a profitable track after experiencing losses last year and in the first quarter of this year.
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