The world's third largest steelmaker South Korea-based Pohang Iron and Steel Company (
POSCO) has announced a 17 percent year-on-year decrease in sales revenue in Q2 this year to KRW 1.5 trillion ($ 1.4 billion).
POSCO cited high raw material costs and the lower price of Japanese products after the March 11 earthquake in Japan as factors contributing to the decline in its sales revenue in the given quarter.