South Korea: POSCO posts stainless steel production at nearly 2 mnt in CY’21

POSCO’s stainless steel production increased by 11% y-o-y to 1.96 mnt, while sales rose by 9% on the year to 1.98 mnt in CY’21. The company’s subsidiary in China, Zhangjiagang Pohang Steel, demonstrated improved performance last year due to higher sales and increased use of low-cost scrap despite the Chinese government’s regulations on production and electricity use.