Posco Expects Stainless Steel Demand to Rise After ‘Tough Year’
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Posco, the world’s second-biggest maker of stainless steel, expects demand from plant builders and automakers in Asia to climb next year. The company is also seeking to cut its use of nickel because of volatile prices.
“As the economy recovers, we expect a better market environment and improvement in profitability next year,” Suh Young Sea, a senior vice president of the Pohang, South Korea- based mill, said in an interview. Output this year may rise to about 1.8 million metric tons from about 1.4 million tons last year, he said. He didn’t give a 2011 forecast.