POSCO's cold galvanized plate sales decline m-o-m in Nov'23

POSCO's cold galvanized plate sales declined by 11% m-o-m to 993,000 tonnes (t), in November 2023. This is the first time since April that monthly sales have not surpassed 1 million tonnes (mnt), which have consistently surpassed 1 million tonnes (mnt) for the 7 months of 2023.

Both domestic and export sales reported decline in the previous month. Domestic demand dipped by 9.6% m-o-m to 426,000 t, and exports fell by 12.1% m-o-m to 121,000 t.

The total cumulative sales of cold galvanised steel inched up by 0.9% y-o-y to 11.88 mnt against 11.68 mnt. However, steel export edged down by 0.7% y-o-y to 6.62 mnt, on the other hand, domestic consumption was up by 3% y-o-y to 5.16 mnt.

While stone cutting plate sales remained steady, most other steel products experienced a slump in the past month. Notably, full hard steel sales dipped by 50,000 t and cold-rolled steel sheets declined by 22,000 t against last month.

POSCO attributed a decrease in both domestic and export sales in November to downstream process maintenance activities.

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