POSCO’s stainless steel production and sales recover in Q1
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Update time : 2023-05-16 17:22:24
South Korean steelmaker POSCO reported that its stainless steel production in the first quarter of 2023 totaled 392,000 tons, surging by nearly 160% compared to the previous quarter but falling by 25% from the corresponding period a year earlier.
During the period, POSCO’s stainless steel sales increased by 93.5% quarter on quarter but dropped by 27.3% year on year to 360,000 tons.
The company’s first-quarter production and sales have recovered from the factory flooding caused by Typhoon Hinnamnor in September last year. It was expected that both output and sales will increase after the second quarter with gradually recovering factory equipment.
