[Hyundai Steel Concall] "Special Steel to Reach Breakeven Point Once Demand Normalizes After COVID-19"
[Asia Economy Reporter Hwang Yoon-joo] Hyundai Steel announced on the 28th that "although the special steel division did not make a profit, it will achieve the break-even point once the COVID-19 pandemic subsides and demand normalizes."
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During the Q2 earnings conference call, Hyundai Steel explained, "When the quality in the special steel division declined, we secured it by using high-priced scrap, but now we can maintain quality even with low-priced scrap," adding, "The cost reduction and the technical success of switching to low-cost raw materials have led to remarkable growth in variable costs compared to the previous year."
This content was produced with the assistance of AI translation services.
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