POSCO named most competitive in Global steel information provider WSD’s assessment of 36 steelmakers around the world
POSCO has been named the world’s most competitive steelmaker for the 7th consecutive time during the past five years.
Global steel information service provider World Steel Dynamics (WSD) announced the World-Class Steelmaker Rankings during the 29th Steel Success Strategies (SSS) forum on Tuesday, June 17 New York Time.
POSCO earned high points in technological innovation and human resource management
WSD gave the top mark of 7.91 points out of 10 to POSCO. It said POSCO received highest points in four segments, including technological innovation and human resource management.
As of June 2014, WSD made an assessment of 36 steelmakers around the world in 23 categories including production size, profitability, technological innovation, cost competitiveness, cost saving, financial stability, and procurement.
WSD gave credit for POSCO’s improvement on its core steel competitiveness
WSD also gave credit for POSCO’s effort to bolster stable growth and improve core corporate competitiveness by increasing sales of value-added high-end products and engaging in technology-based solution marketing. The company got higher points compared to the previous year on technological innovation, value-added rolled steel production and doing more to bolster downstream steel-related industries.
Following second was American mini-mill steelmaker Nucor Corp. which has enjoyed shale gas development privileges along with a recent recovery in the steel industry among developed nations. Japanese steelmakers NSSMC and JFE followed third and eighth with sales rising due to increased export competitiveness under Abenomics.
Meanwhile SAIL and Jindal, Indian companies that were among the top 10 last year, failed to remain in the list this year. Instead, Hyundai Steel, which secured 24 million tons for production, ranked ninth to join the top 10.