South Korean leading steelmaker POSCO produced around 390,000 tons of stainless steel in the third quarter of this year, falling by 16.4% compared to the previous quarter and rising by nearly 13% from the same period a year ago. The quarter-on-quarter decrease was mainly due to weak demand, and the year-on-year growth was because of the flooding incident at the Pohang plant caused by Typhoon Hinnamnor in the year-ago period.

In the third quarter, the sales of stainless steel totaled approximately 400,000 tons, a quarter-on-quarter decrease of 8.3% and a year-on-year increase of 13.4%.

Meanwhile, POSCO Zhangjiagang Stainless Steel (PZSS)’s stainless steel sales amounted to nearly 260,000 tons, up by 4.4% from the preceding quarter and down by 4.1% year on year.