POSCO’s crude steel output drops by 1.8% in 2024
Time:Thu, 06 Feb 2025 09:20:48 +0800
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In 2024, South Korean steelmaker POSCO’s crude steel production fell by 1.8% year on year to 35.05 million tons due to blast furnace maintenance and steel and wire rod plant closures.
The No. 4 blast furnace, with a volume of 5,600 cubic meters, was shut down last year, and two lines, involving steel and wire rod production, were also permanently closed in the same year.
Weakened demand and China’s steel surplus led to a price drop to 985,000 won per ton, with net profit plunging by 48.6% to 948 billion won in 2024.
To strengthen competitiveness, POSCO is expanding investments in India and North America, improving efficiency, and pursuing carbon neutrality. The company is also partnering with JSW Group to build a 5-million-ton steel plant in India.
