22
Jul
07:32
Posco's second-quarter profit plunges on weak demand
South Korea's leading steel producer, Posco Steel, reported lower sales revenue and operating losses for the second quarter, due to weaker steel demand affected by Covid-19, Kallanish notes.
The steelmaker reached KRW 5.88 trillion ($4.91 billion) in sales in Q2, down -15.6% quarter-on-quarter and -21.4% year-on-year. The operating loss was KRW 108.5 billion, down from a KRW 724.3 billion profit during the same period of last year. Weak steel demand …
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Anonymous
Very good overview of the weekly steel market.
Anonymous