China Steel Swings to Fourth-Quarter Loss After Cutting Output
This article is for subscribers only.
China Steel Corp., Taiwan’s largest steelmaker, swung to a loss in the fourth quarter as weak demand forced it to cut production.
The loss of NT$573 million ($19 million) for the three months ended Dec.31 compared with profit of NT$4.53 billion a year earlier, according to figures derived from full-year earnings released today by the Kaohsiung-based company. That missed the NT$638 million average estimate of seven analysts in a survey compiled by Bloomberg.