[Alpha Biz=(Chicago) Reporter Paul Lee] Hyundai Steel posted poor year-on-year performance in the third quarter of this year.

Hyundai Steel said on the 26th that its consolidated sales fell 10.2% on-year to 6.2832 trillion won and operating profit fell 38.8% to 228.4 billion won in the third quarter of this year. Net profit also fell 51% year-on-year to 129.2 billion won. As a result, the operating profit ratio also fell 1.7 percentage points year-on-year to 3.6 percent.

Hyundai Closing's poor performance was attributed to a drop in sales and falling product prices due to a slowdown in the global steel market.

In fact, Hyundai Steel's sales volume rose 0.2% year-on-year to 4.539 million tons in the third quarter of this year. Increased demand for automobiles and shipbuilding has led to increased product sales, while sales of electricity have declined due to the sluggish construction industry.

 

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