South Korean steelmaker Hyundai Steel has posted a non consolidated net profit of KRW 275 billion for the second quarter this year, compared to a net profit of KRW 220 billion in the first quarter of 2021.Revenue – KRW 4,866 billion, up by 14% QoQ & 32% YoYGross Profit – KRW 721 billion, up by 41% QoQ & 218% YoYNet Profit – KRW 275 billion, up by 19% QoQ & 9067% YoYIts net profit and sales revenues increased as global steel market recovered. In the second quarter this year, the company's finished steel production amounted to 4.66 million tonne, decreasing by 0.6% YoY, while its steel sales volume totalled 5.03 million tonne, up by 7.7 YoY, amid the recovery in the steel market.During the quarter, Hyundai Steel started supplying cryogenic rebar, expanded sales of special steel plates for ships, develop new products to improve safety for car crash and seismic & fire in buildingSupplied cryogenic rebar for LNG storage tankSupplied cryogenic (9% Ni steel) heavy plate for LNG powered container shipExpanded high strength steel (A/D/E 500) for LNG icebreakerDeveloped 1.5G integral high tolerance hot stamping steel with Improved crash energy absorptionAnti-seismic high strength rebar (yield strength 17%)Anti-seismic & fireproof H-beam for building( YS420Mpa)Hyundai Steel expect economic growth be accelerated by fiscal support & vaccine distribution in advanced countries & f forecast global steel demand to be strong as downstream industries are in recovery phase
South Korean steelmaker Hyundai Steel has posted a non consolidated net profit of KRW 275 billion for the second quarter this year, compared to a net profit of KRW 220 billion in the first quarter of 2021.Revenue – KRW 4,866 billion, up by 14% QoQ & 32% YoYGross Profit – KRW 721 billion, up by 41% QoQ & 218% YoYNet Profit – KRW 275 billion, up by 19% QoQ & 9067% YoYIts net profit and sales revenues increased as global steel market recovered. In the second quarter this year, the company's finished steel production amounted to 4.66 million tonne, decreasing by 0.6% YoY, while its steel sales volume totalled 5.03 million tonne, up by 7.7 YoY, amid the recovery in the steel market.During the quarter, Hyundai Steel started supplying cryogenic rebar, expanded sales of special steel plates for ships, develop new products to improve safety for car crash and seismic & fire in buildingSupplied cryogenic rebar for LNG storage tankSupplied cryogenic (9% Ni steel) heavy plate for LNG powered container shipExpanded high strength steel (A/D/E 500) for LNG icebreakerDeveloped 1.5G integral high tolerance hot stamping steel with Improved crash energy absorptionAnti-seismic high strength rebar (yield strength 17%)Anti-seismic & fireproof H-beam for building( YS420Mpa)Hyundai Steel expect economic growth be accelerated by fiscal support & vaccine distribution in advanced countries & f forecast global steel demand to be strong as downstream industries are in recovery phase
