[Average Operating Rate of Construction Machinery Nationwide at 45.09% in April]

In Q1 2026, POSCO Holdings Group recorded revenue of 17.9 trillion won, up 1,035 billion won QoQ; gross profit was 15.2 trillion won, up 488 billion won QoQ; gross profit margin rose 2.4 percentage points QoQ to 8.5%; selling, general and administrative expenses were 810 billion won, down 206 billion won QoQ; operating profit was 707 billion won, up significantly by 694 billion won QoQ, with profitability improving substantially; operating profit margin rose 3.9 percentage points QoQ to 4.0%; pre-tax profit was 757 billion won, achieving a turnaround from loss to profit; net profit was 543 billion won, up 854 billion won QoQ; net profit attributable to the parent company was 467 billion won.

[SMM Steel] The US Department of Commerce finalized its antidumping administrative review on corrosion-resistant steel products from Taiwan covering July 2023-June 2024. Sheng Yu Steel and Prosperity Tieh Enterprise received final dumping margins of 0.00%, while Great Grandeul Steel Company Limited (Samoa) was assigned a weighted-average dumping margin of 0.99%. The USDOC maintained nearly all calculations from the preliminary findings, with only a minor spelling correction made to Prosperity’s corporate name.

[SMM Steel] Global crude steel production declined 1.9% y-o-y to 153.4 million mt in April 2026, while January-April output fell 2.0% y-o-y to 613.3 million mt, according to worldsteel data. China’s April crude steel output dropped 2.8% y-o-y to 83.6 million mt, while India, South Korea, and the US recorded growth of 3.9%, 4.8%, and 9.4% respectively. EU-27 output declined 1.8% y-o-y to 11.0 million mt, while CIS production fell sharply by 13.4% y-o-y. Market participants said global steel production remains under pressure from weak demand and ongoing regional trade and geopolitical uncertainties.