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South Korea's Pohang Steel's stainless steel production and sales decline in 2019
Source:Xinsteel   Date:2020-04-16
According to a report released by Posco, South Korea, in 2019, the output of stainless steel in South Korea ’s Pohang Steel was 1.97 million tons, lower than 2.033 million tons in the previous year; the sales of stainless steel materials were 1.968 million tons, also lower than the previous year 2.001 million tons.
The report also shows that the crude steel output of South Korea ’s Pohang Steel increased from 37.738 million tons in the previous year to 38.07 million tons, and the output of steel products including stainless steel decreased from 35.989 million tons in the previous year to 35.910 million tons; 35.588 million tons increased to 35.99 million tons, of which, domestic sales accounted for 55.3% from 57.5% of the previous year, and the world's top quality product (WTP) sales increased from 9.612 million tons to 10.11 million tons.
South Korea's Posco Steel's full-year operating income fell from 30.659 trillion won last year to 30.374 trillion won. Operating profit increased from iron ore prices to increase manufacturing costs and product prices fell from 3.809 trillion won last year It fell to 2.586 trillion won, and net profit increased to 1.176 trillion won from 1.073 trillion won in the previous year.
The annual revenue of the Pohang Group ’s steel business decreased from 50.421 trillion won in the previous year to 49.808 trillion won, operating profit decreased from 451.6 million won to 268.7 million won, and net profit decreased from 1.272 trillion won to 586 billion won.