Topic
Formerly known as Pohang Iron and Steel Company, POSCO is a South Korean steel group that was the world’s fifth largest steel maker in terms of out put in 2010.
Far-flung French territory holds 7.1 million tonnes of high-grade nickel vital for making lithium-ion batteries to power electric vehicles.
The storm made landfall in the country’s southern regions on Tuesday, unleashing heavy rains and winds of up to 155km/h, and leaving 10 people dead.
Petrochemical firms joined automobile and steelmakers in cutting operations due to inventory issues from transport disruptions from the truckers strike. The 22,000-strong union is protesting soaring fuel prices and demanding minimum pay guarantees.
Taxes ranging from 18.1 per cent to 103.1 per cent will be imposed on all stainless steel billets and hot-rolled stainless steel plates from Tuesday.
As Trump travelled to South Korea, a business deal was expanding between the family business and a company partly owned by the Korean government.
Posco, South Korea's biggest steelmaker, has cut its sales forecast for this year for a second time after reporting a 22 per cent slump in third-quarter profit.