Mining News -POSCO posted a consolidated operating profit of 1.49 trillion won for the January-to-March period, compared with 1.37 trillion won a year earlier.

Its first quarter revenue was up 5 percent at 15.9 trillion won, while its net profit climbed 10.9 percent to 1.1 trillion won.

The world’s fifth-biggest steelmaker said in a statement that it expected steel demand to keep growing thanks to “sustained restructuring in China’s steel industry and expectations of recovery in emerging market growth”.

The steelmaker also raised its 2018 consolidated sales target to 63 trillion won from 61.9 trillion won.