China Steel plans to increase its profits

Taiwan metallurgical company China Steel expects to receive net profit for the first half of 2011 in 15 billion Taiwan dollars (524 million dollars), reports Yieh Corp. CSC predicts that production in the second quarter of this year will reach 2.88 million tons, up 12% over the first quarter. Also, profits will increase as steel prices rose in April and May. As reported, China Steel in I quarter of 2011 compared to same period in 2010 reduced net income by 40% to 6.68 billion Taiwan dollars (233 million dollars). Recall that China Steel in the IV quarter of 2010 compared with the same period in 2009 reduced net income by 72%, to 4.53 billion Taiwan dollars (153 million dollars). In turn, revenues decreased by 23% to $ 61.7 billion Taiwan dollars Overall, the last year, China Steel profit reached 37.6 billion Taiwan dollars "China Steel Corp" is a major Taiwanese manufacturer of flat rolled products. The authorized capital is 3.5 billion dollars Ministry of Industry