Korean high carbon steel companies are increasingly burdened with cost

Release time：Apr 16, 2019 From：ADMIN

Since the beginning of this year, Korean high carbon steel companies have generally faced the challenge of increasing cost burdens. In fact, since 2018, the development of high carbon steel companies in Korea has been difficult. Relevant practitioners expressed concern about this.

In 2018, the operating profit and net profit of three high-carbon steel companies in South Korea all declined. The total operating income was 33.953 billion won, down 27.8% year-on-year; the total net profit was 15.983 billion won, down 47.4% year-on-year.

South Korean industry insiders pointed out that the main reason for the increase in the cost burden of Korean high carbon steel enterprises this year is the high cost of raw material procurement and the decline in automobile production for three consecutive years. At the same time, due to the fierce competition of related products in China, South Korean high carbon steel encountered certain difficulties in export.