S.Korea's POSCO Holdings hit by surging raw materials costs

Posco International

21/07/2022 07:50

SEOUL, July 21 (Reuters) - South Korea's POSCO Holdings
 005490.KS  on Thursday posted a 4.5% drop in second-quarter
operating profit, in line with company estimates, after raw
materials costs rose more sharply than prices of its steel
products. 
    The holding company of South Korea's largest steelmaker said
consolidated operating profit fell to 2.1 trillion won ($1.61
billion) in the April-June quarter. 
($1 = 1,307.3500 won)

 (Reporting by Byungwook Kim and Heekyong Yang
Editing by David Goodman
)
 ((Byungwook.Kim@thomsonreuters.com;))