POSCO listed as world’s most competitive steelmaker for 2nd time

The steelmaker POSCO announced Monday that it was ranked top in the U.S.-based steel industry analysis firm World Steel Dynamics’ World-Class Steelmaker’s list for the second consecutive year.

In this year’s report, World Steel Dynamics rated 34 steelmakers in 23 categories including technological capability, profitability and access to raw materials. POSCO scored 8.12 points to take the top spot. Last year, POSCO was ranked top with 7.53 points.

The U.S. steelmaker Nucor was ranked second with 7.47 points, followed by Russia’s NLMK with 7.23 points.

“While the company is facing much more competition in its home market from Hyundai Steel, it has become far more aggressive in finding offshore opportunities and pursuing technological advances,” World Steel Dynamics said in the report.

According to POSCO, it had held on to the top spot from 2002 to 2004, but was pushed aside by Russian and Indian steelmakers that own iron ore mines.

The company was able to regain the top spot last year as a result of its efforts at cutting costs, securing iron ore mines and improving technological capabilities, POSCO said.

By Choi He-suk  (cheesuk@heraldcorp.com)