- POSCO Stainless reports $130-mn operating loss in 2024
- Acquisition to reshape competition in China’s SS space
China’s Tsingshan Holding Group has signed an agreement to acquire POSCO’s major stainless steel (SS) subsidiaries in China, including POSCO (Zhangjiagang) Stainless Steel Co., Ltd. and Qingdao Pohang Stainless Steel Co., Ltd. The transition will begin with Tsingshan’s management team entering POSCO (Zhangjiagang) Stainless Steel on 9 July, 2025.
POSCO (Zhangjiagang) Stainless Steel, established in 1997 as a joint venture between POSCO and Shagang Group, is POSCO’s only steel plant in China and has an annual crude steel capacity of 1.1 million tonnes (mnt). The company has faced persistent losses, reporting a $130 million operating loss last year, largely due to oversupply in China’s stainless steel market. This sale is part of POSCO’s broader strategy to restructure low-profit and non-core assets by 2030.
POSCO, headquartered in South Korea, is one of the world’s largest steel producers, with a total crude steel production capacity of 42 mnt and advanced manufacturing operations across Asia and beyond. The acquisition by Tsingshan, a global leader in stainless steel, is expected to reshape the competitive landscape of China’s stainless steel sector.
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