Hyundai Steel announced its Q2 business performance result.
Consolidated sales increased 36.7% from Q2 2020 to USD 4.87 billion and operating profit increased 3,795% to USD 472 million. The profit margin increased significantly from 0.3% in Q2 2020 to 9.7%, showing prominent profit growth. This is due to an increase in sales and overall product price increase in accordance with the stabilization of the global steel market and a rise in demand. Hyundai Steel stated it will help stabilize the supply for major customers as the industry quickly recovers.
