POSCO in South Korea improves the profit due to shifting to high value-added product and cost cut. Sales of steel stock in April-June decreased by 1.2% from January-March, but Cold rolled steel sheet sales increased by 1.8% to 3.411 million tonnes, and hot rolled steel sheet decreased by 3.9% to 1.971 million tonnes. Though average sales amount of common steel decreased by 0.4% from January-March to 926,000 won, profitable sales strategy,shifting to high value-added product, made the profit better .Park pre-president said at press conference for settlement report on 24th, “新日鉄住金 will become a competitive rival to us in steel sheet field for automobile, but we can keep and expand sales level in Japan because steel Industries in Japan is diversifying supply source.
Japan Steel Scrap Composite Prices (Sangyo Press)07/02/2020
|23300YEN (-500)||25300YEN (-500)|
|214.77US$ (-3.34)||233.2US$ (-3.24)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)