Hyundai Steel reports 4% rise in Q2 steel shipments, posts operating profit of KRW 58 bn

• Standalone steel sales rise to 4.42 mnt as higher flat and long product shipments lift volumes
• Revenue grows 2.7% y-o-y, while operating profit and net profit remain below year-ago levels

South Korean steelmaker Hyundai Steel reported a 3.7% q-o-q increase in standalone steel shipments to 4.421 million tonnes (mnt) in the second quarter, while consolidated revenue rose 2.7% y-o-y to KRW 6.11 trillion. The company posted a consolidated operating profit of KRW 58 billion in the second quarter. The figure was up from KRW 16 billion in the previous quarter but down 43.1% from KRW 102 billion a year earlier. Hyundai Steel attributed the improvement to higher sales volumes, stronger key product prices, increased sales of high-value-added products and cost reductions.

Steel market

Flat product shipments increased to 3.021 mnt in the second quarter from 2.978 mnt in the previous quarter. Long product shipments rose to 1.400 mnt from 1.285 mnt, while automotive steel shipments increased to 1.275 mnt from 1.196 mnt, lifting revenue across the company’s core steel businesses.

Hyundai Steel said higher sales volumes and stronger key product prices lifted revenue during the quarter. Domestic HRC prices strengthened as lower volumes of low-cost imports and scheduled maintenance tightened supply, while long steel prices rose on continued exports, supply adjustments by mills and higher raw material costs. Iron ore and coking coal prices softened on weaker demand, while domestic scrap prices eased as higher inventories reduced mills’ purchasing competition.

Financial performance

Consolidated revenue increased 2.7% y-o-y from KRW 5.95 trillion in the second quarter of 2025 to KRW 6.11 trillion. Operating profit declined 43.1% from KRW 102 billion to KRW 58 billion. Net profit fell 67.6% from KRW 37 billion to KRW 12 billion. Hyundai Steel said higher sales of high-value-added products, stronger selling prices and cost reductions supported the sequential recovery in earnings.

Outlook

Hyundai Steel said it is targeting demand from semiconductor fabrication plants, AI data centres and power grid projects, while expanding hydrogen pipeline and nuclear steel products as infrastructure and energy investment shifts towards higher-value steel applications. The company expects growing demand from AI infrastructure and the energy transition to support sales of premium steel products and strengthen profitability over the medium term.