Posted on 24 Jul 2012
South Korea's POSCO, the world's fourth-biggest steelmaker, said it expected China's steel market to bottom out in the July to September period and rebound slightly, helped by Beijing's economic stimulus measures.
"We expect to achieve better profitability in the second half than the first half," Park Ki-hong, senior executive vice president and CFO of POSCO, told analysts on Tuesday.
POSCO reported a 29 percent fall in second-quarter operating profit from a year earlier as orders slowed and cheaper imports from China and Japan undercut prices at home.
