Recently, Pohang Iron&Steel released its second quarter marketing performance report. In the second quarter of this year, POSCO's sales reached a historic high again, reaching KRW 23 trillion (approximately USD 18.4 billion), a year-on-year increase of 25.7%, but operating profit decreased by 4.5%.

Analysis indicates that the continuous price changes of the company's products reflect the rise in prices of iron ore and other raw materials, resulting in a significant increase in sales of POSCO Iron and Steel in the second quarter. However, the cost of rising raw material prices was not directly reflected in product prices, resulting in a year-on-year decrease in operating profit. In the second half of this year, due to the global economic downturn, the demand for cutting-edge industries (industries that use certain materials to produce and sell specific products) has shrunk, and it is expected that the upward momentum of South Korean steel prices will weaken, leading to a slowdown in the performance growth of POSCO Steel.

Local media reported that against the backdrop of weak demand in industries such as construction, it is expected that inventory of South Korean steel companies will increase in the second half of the year, and the development prospects are not optimistic. In addition, the depreciation of the Korean won will also have a negative impact on the performance growth of steel companies in the country.

It is reported that Pohang Iron and other steel companies in South Korea are actively adjusting product prices.