Posco reports Q2 earnings

by Tony Taccone on July 13, 2010

in Data

Posco reported very impressive Q2 earnings today.  See the company’s earnings presentation here.  EBITDA per ton shipped was $237 for Q2, up from $211 in Q1.  The company seems fairly bullish about global steel demand for this year, which is forecast to finish 2010 up 12% at 1,255 million tonnes (MT), from 1,120 MT  in 2009.  Posco also revised upwards its 2010 forecast of Chinese steel demand, to 587 MT from its previous forecast of 579 MT.  This compares to 542 MT of Chinese demand in 2009.  Posco’s results can be compared to some of its peers in the Nerds of Steel earnings spreadsheet.