POSCO to increase steel supply to Nissan

POSCO to increase steel supply to Nissan

South Korean steel giant POSCO has recently announced that it will increase its steel sheet supply to Japanese automaker Nissan Motors by 50% in 2005. As previously reported by SteelOrbis, Japanese car makers Nissan Motors and Suzuki announced that they would temporarily suspend their production due to the steel shortage. South Korean automakers also suffer from tight supply of steel sheet. POSCO has decided to increase supply of steel sheets to Nissan in order to strengthen its long-term business relationship with the Japanese automaker. POSCO officials also stated that they received a request for higher steel shipments from other Japanese auto producers.