SEOUL, Oct. 4 (Korea Bizwire) — South Korean steelmakers are expected to have performed better in the third quarter despite the new coronavirus fears, moving on from a slump a quarter ago, analysts said on Sunday. The country’s major steelmakers are likely to have earned more in the July-September period, thanks to a rebound in [...]
SEOUL, Aug. 5 (Korea Bizwire) — POSCO, the world’s fifth-biggest steelmaker by output, and other local steel mills plan to cut their crude steel production due to a sharp decline in global steel demand over the coronavirus pandemic, company officials said Wednesday. Earlier this year, POSCO had planned to produce 36.7 million tons of crude [...]
SEOUL, Oct. 7 (Korea Bizwire) – South Korean steelmakers are raising the prices of their steel products to reflect increased costs of raw materials, industry sources said Monday, though the price hikes are likely to be lower than expected. POSCO, South Korea’s largest steelmaker, recently agreed with a local carmaker to raise the prices of [...]
SEOUL, Sept. 30 (Korea Bizwire) – South Korea’s steelmakers are looking at core materials used for environmentally friendly vessels ahead of the implementation of a new environmental regulation by the International Maritime Organization (IMO) as part of their efforts to diversify its product portfolio and beef up profitability, industry observers said Monday. The IMO will [...]
SEOUL, Sept. 1 (Korea Bizwire) — A sharp drop in prices of key raw materials, such as iron ore, is posing a quandary for South Korean steelmakers who are eager to raise prices of their steel products for the second half of the year, industry observers said Saturday. According to data from Korea Resources Corporation, [...]
SEOUL, Jun. 19 (Korea Bizwire) — South Korean steelmakers are likely to continue to suffer weak business results in the second quarter of the year due to high iron ore prices and a supply glut amid concerns over a global economic slowdown, analysts here said Wednesday. The price of iron ore, one of the main [...]
SEOUL, May 1 (Korea Bizwire) — South Korean steelmakers are facing a double whammy of rising iron ore prices and low demand from major clients, industry sources said Wednesday. Steelmakers have passed high costs of raw materials such as iron ore and coking coal onto customers, but they have difficulties in demanding that their clients [...]
SEOUL, May 31 (Korea Bizwire) — South Korea’s reinforced bar makers are reducing their output in the second quarter due to a decline in demand from the home construction market, industry sources said Thursday. Hyundai Steel Co., Dongkuk Steel Mill Co. and Daehan Steel Co. plan to reduce the production of reinforced bars or put [...]
SEOUL, Dec. 25 (Korea Bizwire) — South Korea’s trade ministry and local steelmakers have discussed ways to cope with the United States’ growing trade protectionism including adjusting steel exports, officials said Monday. The ministry held a meeting with trade experts and local steelmakers, including top player POSCO and its rival Hyundai Steel Co., on Thursday [...]