POSCO CEO says sees Q1 earnings to improve sharply from Q4

Tue Jan 29, 2013 2:44am EST
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SEOUL Jan 29 (Reuters) - The chief executive of South Korean steelmaker POSCO, Chung Joon-yang, said the steelmaker expected its earnings to improve "significantly" in the January to March period from the preceding quarter, driven by lower costs of raw materials and recovery in steel prices in China.

The CEO made the remarks after POSCO reported a 51 percent slump in quarterly operating profit as tepid demand and falling prices offset lower raw material costs helped by a firmer local currency.