South Korea’s POSCO posts strong Q3 results on lower raw material prices and increased exports

摘要

South Korean steelmaker POSCO posted improved financial results in Q3 2014 thanks to reduced raw material costs and increased export shipments. Over the period, operating profit increased 4.8% q-o-q. The gain was on the back of iron ore price collapse (from $96/t in July to $83/t in September) under pressure from oversupply in the market and low prices for coking coal ($110-115/t).