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[Ferro-Alloys.com] World’s fifth-biggest steelmaker South Korean s POSCO reported that its revenuein Q1 of 2020 fell by 9.2% YoY to KWR 14.5 trillion and net profit dropped by 44.2% to KWR 435 billion.
Crude steel and product production declined QoQ due to revamp of Gwangyang #3 Blast Furnace and maintenance of downstream mills inch HR and plate lines.
Product inventory remained same as previous quarter at 1.107 million tonnes.
POSCO said “Crude steel production is now forecast at 34.1 million tonnes for the year, down 7.1% from 36.7 million tonnes earlier and sales at 32.4 million tonnes, down 7.4% from 35 million tonnes earlier.” (STEELGURU)
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