China Steel Corporation expects another quarterly net loss for the three months ending June 30th 2012 before possibly turning profitable in the third quarter.

China Steel posted a net loss of TWD 712.2 million in the three months ended March 31st 2012. The company said earlier that falling worldwide demand and high feedstock costs are behind the losses.

CSC chairman Mr Tsou Jo chi told shareholders at the company's annual meeting that it will continue to invest in more iron ore and coal mines abroad to further lower feedstock expenses. It is on track to reach its target of cutting annual operating costs by USD 140 million this year.

Source - Market Watch

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