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Posco’s Q2 operating profits drop by 29% y-o-y
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South Korean steel giant Posco announced that its operating profits in the second quarter of this year was at 1.06 trillion won, falling by 29% year on year, due to slow demand and cheap imports from China and Japan into the South Korean domestic market.
Besides, Posco also cut its forecast for its 2012 sales revenue to 37.5 trillion won from 37.7 trillion won because of sluggish global steel demand, debit crisis in euro zone and China’s slow economy.
News Date
7/26/2012 8:56:04 AM
reported by
Sancia Li
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