Bloomberg reported that POSCO will report record production of stainless steel this year and expects to maintain that pace in 2012 supported by demand from emerging markets.

Mr Suh Young Sea senior VP of POSCO said in an interview in Seoul that output of stainless steel may reach about 3.16 million tonnes this year, up from about 2.9 million tonnes in 2010.

He said “We are probably the only stainless steel maker that’s making profits and running at full capacity under the current situation. We will try to maintain current output levels next year as well. Emerging markets will still likely show some growth and we are planning to increase our share in those markets.”

He said that global stainless steel output may rise 6.5% to 33 million tonnes this year.

He added “It’s very difficult to make any forecasts for next year because there still remain uncertainties about the global economy. However, we’d like to remain optimistic, pinning hopes on emerging markets such as China, India and Southeast Asia.”

(Sourced from POSCO)