Reportedly, Korean Posco, the world’s fifth-largest steelmaker by output posts a KRW240.5 billion (US$215.5 million) of net profit for the second quarter of this year, citing the strong competition from China lured customers with lower prices.
It means the company’s second-quarter net profit had fallen by about a half from the same period of 2012, which was KRW465.8 billion.
While, the company expects that global demand of steel products to increase by 3% this year, and it was holding its sales target for the full year at KRW64 trillion (US$57 billion).
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65549&division=A6
