Poso has a crude steel production goal of 38.2mn mt in 2021 with product sales of 35.6mn mt in 2021. POSCO produced 17.35mn mt of crude steel in H1 2021 or 45.4pc of the total annual production goal. The company sold 17.81mn mt in H1 2021, or 50pc of its yearly goal.
The company’s revenue estimate is KRW37tr ($32bn) for its steel unit and a KRW66.4tr consolidated target for 2021. Its H1 2021 revenue in the steel segment was KRW17.1tr or 46.2pc of the total annual estimate. This forecast is based on strong steel demand and high steel prices.
Crude steel production rose by 21.2pc to 9.45mn mt in Q2 2021 against the year-ago quarter level of 7.79mn mt. Production sales increased by 15.9pc to 9mn mt in Q2 2021 compared to 7.76mn mt in the year-ago quarter.
Revenue in the steel division rose by 57.6pc to KRW9.3tr in Q2 2021 against the same quarter last year. Carbon steel sales price average rose to $901/mt in Q2 2021 against $763/mt in Q1 and $643/mt in Q2 2020. The average prices rose by 40pc in Q2 2021 against the year-ago quarter.
Revenue for the consolidated company climbed by 33.3pc to KRW18.3tr in Q2 2021 compared to the same quarter in 2020. The consolidated unit achieved revenues of KRW34.4tr in H1 2021. The company had a net operating profit of KRW1.6tr in Q2 2021 against KRW108bn in the steel parent segment with an operating profit of KRW2.2tr in the consolidated Q2 2021 figures against KR168mn in the same quarter last year.