[Ferro-Alloys.Com] South Korean Hyundai Steel announced that its sales revenues in the third quarter totaled KRW 3.406 billion, falling by 9.3% YoY.

However, the firm's net profits increased by 25.2% from a quarter ago to reach KRW 232 million.

Meanwhile, Hyundai Steel's sales volumes of steel products totaled 3.959 million tonnes, falling by 8.9% QoQ including 2.216 million tonnes of steel flat products and 1.743 million tonnes of steel long products, decreasing by 4.6% QoQ and 13.8% QoQ, respectively.

Hyundai Steel said that the decreased sales volumes were caused by weak export market and the firm’s annual maintenance in the period.

Even though the sales volumes dropped, the increased sales volumes of high value added products helped to firm to gain profits.

In the third quarter of this year, Hyundai Steel's production of finished steel products totaled 3.913 million tonnes, falling by 7.5% QoQ.

Among them, 2.194 million tonnes were steel flat products, declining by 5.2% QoQ; 1.719 million tonnes were steel long products, falling by 10.1% QoQ.

• [Editor:editor]