POSCO raises its forecast for steel production for 2021

Due to the growth in demand and prices for rolled metal after the COVID-19 epidemic, the South Korean company POSCO raised its forecast for steel production for 2021 from 37.8 million tons to 38.2 million tons, and the annual sales volume also increased from 35.4 million tons to 35.6 million tons for this year.

In the second quarter of this year, POSCO steel production reached 9.45 million tonnes, down 1.15% from the previous quarter, due to planned maintenance plans at Pohang and Gwangyang Works.

POSCO’s crude steel utilization rate declined to 93.2% in the second quarter from 95.3% in the previous quarter due to overhaul plans.

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