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The second phase of the Donggang Steel Project in Malaysia was fully completed and put into operation
Time : 2023-11-13

News from this newspaper: Recently, Posco Holdings announced its third quarter report for 2023. The report shows that in the third quarter, Posco Holdings’ operating income was 18.96 trillion won (approximately US$14.52 billion), a year-on-year decrease of 10.4%; operating profit was 1.19 trillion won (approximately US$911 million), a year-on-year increase of 33.3%; Net profit was 555 billion won (approximately US$425 million). In terms of steel business, in the third quarter, Posco Holdings’ crude steel output was 9.311 million tons and steel product output was 8.377 million tons. In terms of sales, Posco Holdings' steel shipments reached 8.3 million tons in the third quarter, of which WTP (World Top Premium, including world premiere and world-best products) sales reached 2.381 million tons, accounting for 30.2% of steel sales. In terms of key businesses, Posco Holdings is actively building a value chain for non-oriented electrical steel production, iron core manufacturing, motor production and vehicle manufacturing for electric vehicles. In terms of the production of non-oriented electrical steel for electric vehicles, Posco Holdings will have 2 production lines by the end of 2024, with a total production capacity of 400,000 tons. In terms of motor core production plants, Posco is actively building a motor core production plant in Poland (with an annual production capacity of 1.2 million units), China (an iron core production line with an annual production capacity of 600,000 units), and South Korea (with a total annual production capacity of 1.2 million units). There are 2 motor core production plants in China) and Mexico (one motor core production plant has been built, and another one is planned to be built, with a total annual production capacity of 1.5 million units).
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