On October 28, Hyundai Steel announced its 2021 third quarter business performance.
The company reported USD 4.96 billion in consolidated sales, representing a 31.3% increase from the same period in the previous year, and an operating profit of USD 699.3 million, signifying a year-on-year increase of 2,374%. The company also reported a 14.1% increase in profit margin from the same period in the previous year. These achievements were attributed to concerted efforts to increase profitability, which included the adoption of pricing policies that reflected the recent increases in raw material prices and increased sales of premium products on a global scale. Hyundai Steel has been driving up sales of mobility parts in major markets around the world and expanding its new material (aluminum) processing lines to secure and advance the company’s future business competitiveness. Demands for Hyundai Steel products have largely recovered from a previous slump, leaving the company optimistic about its business performance in the coming months.
