20
Oct
12:03
Posco takes losses on impairment and forex
South Korea’s Posco has recorded its worst quarterly results in over five years as assets lost value and exchange rates bloated its debt burden. The mill continues to see operating profits however despite a major downturn in the Korean market, Kallanish notes.
The company’s net profit slumped to a loss of KRW 658 billion ($580 million) in Q3, wiping out net profits of KRW 341 billion earned over the first half of the year. Operating profit was down s…
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Anonymous
Very good overview of the weekly steel market.
Anonymous