South Korean steelmaker Hyundai Steel has announced its consolidated financial results for the first quarter of 2026.
Accordingly, Hyundai Steel has posted a net loss of KRW 39 billion ($26.37 million) for the given quarter, due to foreign exchange volatility and higher raw material costs, compared to a net loss of KRW 54 billion in the corresponding period of 2025. The company’s sales revenues increased by 3.1 percent year on year to KRW 5.74 trillion ($3.88 billion), driven by improved sales volumes despite challenging market conditions, while its operating profit totaled KRW 16 billion ($10.81 million) in the given period, compared to an operating loss of KRW 19 billion in the first quarter of 2025.
In the first quarter, the company’s total sales volume totaled 4.26 million mt, up by 3.3 percent year on year. Hyundai Steel’s flat steel sales amounted to 2.97 million mt, up by 5.5 percent year on year.
While demand from infrastructure, energy and AI-driven sectors is expected to grow, Hyundai Steel emphasized that profitability will depend on raw material costs, exchange rate movements and global steel market dynamics. The company continues to focus on cost control, product mix optimization and expansion into higher-value and low-carbon steel segments.