South Korean Posco is expected to report net profit of 939.06 billion wow for the quarter ended 30 June compared to it was 709.68 billion wow from a year ago, which is 32 percent increase according to Dow Jones Newswires.

The profit was generated by rising price of their main products.

For 70 percent of the company’s product was sold domestically, favorable export price also contributed to this good profit result from strong demand markets such as China, the Middle East and Southeast Asia.

Even though the nickel price declined in June, it has small influence on its second quarter profit report for cutting price on its stainless steel products.