【Ferro-alloys.com】South Korea’s leading steel manufacturer POSCO recently estimated that due to the global economic recovery from the COVID-19 pandemic and strong demand, its operating profit in the second quarter reached its highest point in 15 years.

The company stated in a regulatory document that operating profit for the April-June quarter jumped from 121.2 billion won in the same period last year to 2.2 trillion won (approximately 12.5 billion yuan).

This is the highest quarterly operating profit since 2006, when the steel manufacturer reported its quarterly earnings through an investor relations meeting.

Due to strong demand for steel for automobiles, ships and construction, POSCO has increased product prices.

The company said that its sales in the second quarter increased by 32.8% to 18.22 trillion won from 13.7 trillion won a year ago.

The company plans to release its final quarterly results later this month. 

• [Editor:zhaozihao]