SMM7, March 7: according to a recent report released by South Korea's Posco (POSCO), in the first quarter of 2020, South Korea's Posco's stainless steel production was 481000 tons, down about 3.4% and 4.4% respectively compared with the same period last year; and stainless steel sales were 469000 tons, down about 7.5% and 2.5% respectively compared with the same period last year.
It is reported that South Korea's Posco's crude steel production fell by about 3.6% and 5.6% to 9.066 million tons respectively compared with the previous quarter, and steel production, including stainless steel, decreased by about 3.5% and 2.7% to 8.723 million tons, respectively. Sales fell by about 7.1 per cent and 4.3 per cent to 8.62 million tons, respectively, of which domestic sales fell but rose to 54.8 per cent, while sales of the world's top quality product (WTP) fell to 27.6 per cent.
According to SMM statistics, the total import volume of electrolytic manganese in Posco, South Korea, was 18600 tons in the first and second quarters of 2020, 10.74% lower than that of 21000 tons in the first and second quarters of last year. Affected by epidemic control and fire accidents at regional steel mills in the second quarter, it will have a slight impact on the production of Posco steel in South Korea. In addition, there is not much demand for steel at home and abroad this year, so profits and income on steel are visible.
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