Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Thailand-based Posco Thai Knox’s or cold-rolled stainless steel sales volume declined by 20.4pc to 46.739.4mt in Q2 (April-June) from a year ago, according to the company’s earnings report. 


Sales revenues dropped by 27.8pc in the June quarter to THB2,699mn ($86.6mn) amid an 8.3pc fall in its average selling price. Posco-Thainox’s average selling price in Q2 was THB57,745.8/mt down from THB62,961/mt in Q2 2019. The company’s domestic sales declined by 23.4pc to THB1,909mn, while exports dropped by 34.5pc to THB789.1mn from a year ago quarter.


The company’s gross profit margins fell by THB50.7mn to THB37.7mn in Q2 compared to THB88.4mn in the prior year quarter. Posco-Thainox’s posted a gross profit margins declined to 1.4pc in Q2 from to 2.4pc in Q2 2019. For the quarter, the company reported a net loss of THB65.06mn compared to a profit of 0.42mn in the prior year quarter. The depreciation of the Thai Baht significantly reduced the company’s earnings compared to the year ago. Exchange rate gains dropped to THB 7.5mn from THB42.4mn in Q2 2019.


Posco Thai Knox’s produces cold-rolled stainless steel used in manufacturing kitchen appliances, washing machines and other products in both the domestic and export markets. The company produces austenitic SS and cold-rolled ferritic SS. 


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