Weak profits for Korea’s POSCO

first_img POSCO, the world’s number three steelmaker, posted a weaker-than-expected quarterly profit and warned it was struggling to pass on rising costs as floods in Australia disrupt raw material supplies. South Korea’s POSCO is already a laggard among Asian steelmakers in terms of price increases, share price performance and profitability, and higher costs will deal it another blow as it relies heavily on imports for raw materials like iron ore and coal. The company, which counts billionaire investor Warren Buffett and Japan’s Nippon Steel as major shareholders, said its contract prices of both iron ore and hard coking coal for the first quarter rose 8 per cent from the previous quarter. whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org KCS-content Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Show Comments ▼center_img whatsapp Tags: NULL Thursday 13 January 2011 7:36 pm Weak profits for Korea’s POSCO last_img read more

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