POSCO Earnings Miss Analysts' Estimates
07/22/2016 - POSCO recorded an operating profit of US$597.7 million between April and June, falling short of analysts’ expectations, according to the Reuters news service.
Nevertheless, the company said it expects that China’s plans to cut capacity will eventually lift Asian steel prices.
"We believe restructuring in China will happen in the next four, five years, as China is struggling with trade regulations worldwide and facing pressure from the United States and the European Union," Kim Young-joong, vice president at POSCO, said during the company’s quarterly earning call, according top Reuters.
