Monday, December 9, 2019
POSCO Named World’s Most Competitive Steelmaker for 6 Straight Years
Steelmaker Rankings
POSCO Named World’s Most Competitive Steelmaker for 6 Straight Years
  • By Lee Song-hoon
  • June 10, 2015, 02:45
Share articles

 

POSCO has been named the world’s most competitive steelmaker again this year.

Global steel information service provider World Steel Dynamics (WSD) announced the World-Class Steelmaker Rankings during the 30th Steel Success Strategies (SSS) forum on Tuesday, June 9 New York Time. POSCO has topped the list for the 8th consecutive time in the past six years.

[[{"fid":"11788","view_mode":"body_image_right","fields":{"format":"body_image_right","field_file_image_alt_text[und][0][value]":"","field_file_image_title_text[und][0][value]":""},"type":"media","link_text":null,"attributes":{"height":555,"width":550,"class":"media-element file-body-image-right"}}]]As of June 2015, the WSD assessed 36 steelmakers around the world in 23 categories including production size, profitability, technological innovation, cost competitiveness, cost savings, financial stability, and procurement.

The WSD gave credit for POSCO’s efforts to improve core corporate competitiveness by increasing sales of value-added high-end products and engaging in technology-based solution marketing. Accordingly, POSCO received the highest points in four segments, including technological innovation and human resource management, and won the top mark of 7.91 points out of 10, standing atop the overall rankings.

American mini-mill steelmaker Nucor Corp. ranked second, and has enjoyed shale gas development privileges along with a recent recovery in the steel industry among developed nations. Japanese steelmakers Nippon Steel and Sumitomo Metal Corp. (NSSMC) came in third, with sales rising due to increased export competitiveness under Abenomics. South American steelmaker Gerdau came in fourth, and Russian steelmaker Severstal in fifth. Hyundai Steel ranked ninth this year again. 

In the forum with a theme of “Just the Beginning,” the WSD projected that the global steel industry would continue at the current slow pace for some time, after reviewing the short-term steel market conditions from 2015 to 2017. However, the institution also added that the global steel industry could recover some momentum from 2017, along with the recovery of the global economy and the improvement in the raw materials market.