South Korean steel producers increase exports in Q1
During the first three months of 2003, the South Korean steel producers experienced brisk overseas sales with the contribution of strong demand from
China, which helped them to improve their first quarter results.
POSCO, Dongkuk Steel and Union Steel have reported rises in their exports compared to the results of the previous year.
The South Korean giant steel maker Pohang Iron and Steel (POSCO) with an annual
production capacity of 25million tons reported that its exports rose by 2.3% in the first quarter compared to the same period of the previous year. POSCO's exports reached 1.62 million tons in this three-month period.
Dongkuk Steel has reached a total of 103'000 tons with an increase of 41.4% during the same period and Union Steel has increased its exports by 9.5% reaching a total exported tonnage of 138'000 tons.