Reportedly, Korea’s steel giant Posco launched its financial result for the third quarter of this year. In the third quarter of this year, Posco’s sales of finished steel products totaled 8.3 million tons, falling by 7% year on year and decreasing by 2% from a quarter ago. Among them, the sales of hot rolled coils (HRC) totaled 1.8 million tons, decreasing by 14% year on year, due to sluggish demand from end users such as carmakers and the stoppage at its Gwangyang works during February and June. However, its sales of wire rods jumped by 24% year on year to 625,000 tons, boosted by expanded capacity at Pohang works.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66847&division=A6
