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POSCO reported for volume production and sales of stainless steel in the third quarter

Steel Company POSCO (South Korea) published a report on the quarterly results of the production of stainless steel products and its marketing. According to data provided by the experts group, the volume of stainless steel produced at the facilities of the corporation, for the reporting period exceeded last year's results by more than 8%, breaking the mark of 486 thousand. Tonnes. the company also increased the volume of sales of its own products, but the growth of these indices is less dynamic than the production-level rise: POSCO in the III quarter of 2011, sold 438 thousand tons of rolled steel (which is 5% more than in the same period of 2010) .Nesmotrya. the fact that the positive dynamics in sales volumes for the Pohang Iron and Steel Company maintained, in the IV quarter of the South Korean analysts look campaign without much optimism. In this connection, POSCO management decided to reduce the amount of investment in their own development. In their view, the stainless steel market will be passive in the last months of the year, while the price of nickel will continue to regress, providing a corresponding impact on the cost of alloyed metals. According to preliminary calculations, announced Chief Financial Officer of the steel plant Choi Jong-tae, in the IV quarter of the volume of profit Pohang Iron and Steel Company will be reduced to the level of $ 1 trillion. South Korean won (about 870 million. US dollars).
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