Sat, Oct 20, 2012 - Page 13 News List

China Steel price cuts to damage profits

TOUGH TIMES:Analyst Tsai Yen-ling has adjusted downward her profit forecast for China Steel Corp this year, saying it is likely to report its lowest profits in a decade

By Kevin Chen  /  Staff reporter

China Steel shares closed 0.57 percent lower at NT$26.05 yesterday before the announcement of its latest price adjustments.

The shares have fallen 9.55 percent since the beginning of the year, compared with an increase of 4.76 percent on the benchmark TAIEX over the same period, Taiwan Stock Exchange data showed.

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