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POSCO : S.Korea's POSCO posts highest quarterly profit in a decade as steel prices jump


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SEOUL, April 26 (Reuters) - South Korean steelmaker POSCO
posted on Monday its highest quarterly profit since
the second quarter of 2011, as steel prices rose sharply due to
demand outpacing supply.
The world s fifth-biggest steelmaker said first-quarter
operating profit surged 120% as profit from all sectors, such
as steel, global and infrastructure, and new growth, improved,
including a 12% sequential jump in its carbon steel sales price.
In an earnings call, POSCO said it expected steel supply
from Australia, Brazil and South Africa to rise in the second
half of the year after declining in the first quarter.
It said steel prices were likely to stabilize gradually ....

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