South Korea: POSCO’s stainless steel production rises over 7%, y-o-y, in Q1CY’22

In the first quarter of 2022, POSCO’s stainless steel production reached 523,000 t, an increase of 1.6% month-on-month and a year-on-year increase of 7.2%. On 25 Apr’22, POSCO Holdings reported a record 44% rise in operating profits in Q12022. The company will freeze the price of stainless steel products in May after raising 300 series stainless steel prices by KRW 500,000/t in Apr, Lange Steel reported.