Tag: East Asian steel companies see profits rise despite sluggish market

China’s Bao Steel Group, Korea’s POSCO Holdings (HD), and Taiwan’s China Steel (CSC), three major East Asian steel companies, reported y-o-y increases in their consolidated financial results for Q1FY’24. The steel industry is facing a downturn due to fall in China’s real estate market and excess of steel production in China. This has led to…