South Korea's iron and steel manufacturers predict the sales volume in 2013 could fall by 10% to 32 trillion won ($29.3 billion), but said it will increase the investment by 11% to 4 trillion won, this year in order to stay competitive.
Posco, billionaire investor warren buffett's support, said its operation profit is October to December fell 51% to 379 billion won ($346700000) a parent company basis, did not reflect earnings affiliates than the same period last year, the following a consensus forecast Reuters survey of 25 analysts' 490 billion Korean won.
The result of the fourth quarter, and 771 pen $, compared with a year earlier for operation profit. The fourth quarter sales dropped 20% to 8.07 trillion won, than a consensus forecast for 8.35 trillion won.
Posco has posted a higher profits than their larger counterparts arcelor mittal SA (ISPA. AS), Nippon steel and sumitomo metal industries company (5401 T), and support in the domestic market the leading position, and its cost and benefit.
Posco to also cannot avoid custom a prolonged industry downturn of the global economic weakness hurts the use of metal in automobile, shipbuilding, construction and home appliance industry demand and price.
From China's recent economic data pointed out that the world's largest steel consumption after recovery, this year's economic growth in the last 13 years the pace of the weak. But the rally will be a tepid 8.1%, and European debt crisis and the United States economic recovery that slow export, Reuters survey, last week.
"Global competition of survival, this year than ever more intense," posco ZhongJunYang CEO said in a statement, he expects the global economy sustained downturn in China and the United States, despite the moderate recovery.
Shares of the 5% of shares by warren buffett's Berkshire hathaway company (BRKa. N) (BRKb. N), posco, closed down 0.1%, the results before and after the rebound since late November, in the hope that China's economy will be recovery.
STRONGER won: is it good or bad?
BianZhong man, a Woori investment securities analyst, said South Korea won appreciation help reduce posco in the fourth quarter of iron ore and coking coal imports cost.
Posco's iron ore and coking coal cost dropped by nearly a third to 357000 won per ton in the fourth quarter of 519000 won, according to the future assets securities estimated.
The more powerful the south won, the iron and steel manufacturers than damage in the short term to do more good, "giving more than their more import of raw materials of iron and steel products export," according to XinFen MinShuo, Credit Suisse (Credit Suisse) analysts. Posco exports accounted for 42% of its sales in the third quarter of the year.
The dollar won last year rose nearly 8%, the fastest speed, since 2009, Credit Suisse (Credit Suisse) estimates that won against a dollar posco's annual operating profit increase 4 billion won appreciation, every ten.
But won a long-term threat to damage the car manufacturers and exporters of the steel demand, the agency said.
Appetite M&A
Posco CEO clock lead's major investments and acquisitions, including trade and resources company daewoo international (047050 KS) for 3.37 trillion won, 2010 purchase, leaving heavy debt burden, and lead to a series of cut rating was moody's steel giants, standard &poor's and fitch ratings last year.
Posco has been trying to cut debt and its subsidiaries sell assets, but in frustration, its unit pohang special steel, canceled plans to stock in the stock market is worth $424 million, because the investors need not temperature is not fire.
Posco will continue to work hard to snap up overseas resources, to ensure a steady supply of iron ore and coking coal.
Including posco and Taiwan listed Chinese iron and steel company (2002. TW) composition of the consortium agree arcelor mittal mining Canada for $110 million to buy 15% of the shares.



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