China Steel Corp, the nation's biggest steelmaker, yesterday posted a 54 percent jump in pre-tax net profit on a consolidated basis for last month, a pick-up from a trough in July. Pre-tax profit soared to NT$346 million (US$10.58 million) last month, compared with NT$224 million in July, according to a company statement. In July, pre-tax profit fell 84 percent sequentially. On an annual basis, last month's pre-tax profit plunged 88 percent from NT$2.87 billion amid growing competition from China and a global supply glut.
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