[Asia Economy Reporter Hyungsoo Park] POSCO Steel Sheet is showing strong performance day after day. Since POSCO declared '2050 Carbon Neutrality' last December, it appears that the company's stock price is being influenced as it officially kicks off its eco-friendly business this year.
As of 10:53 AM on the 24th, POSCO Steel Sheet is trading at 30,500 KRW, up 16.41% from the previous day.
Recently, POSCO introduced ‘e Autopos,’ an integrated brand for eco-friendly vehicle products and solutions, to lead the eco-friendly car market. The brand name is a compound word combining eco-friendly and electrified AUTOmotive solution of POSco.
The main products include high-strength steel sheets for body and chassis, battery pack-specific steel, energy-efficient steel sheets for drive motors, metal separators for hydrogen fuel cell vehicles, and anode and cathode materials for secondary batteries. POSCO plans to leverage the capabilities of group affiliates such as POSCO Chemical, POSCO International, and POSCO SPS to provide steel and secondary battery material products for eco-friendly vehicles, along with customized design services for customers using these products.
ResearchAlum analyzed that POSCO Steel Sheet’s performance improvement is possible due to its supply of parts for electric vehicles.
Choi Seonghwan, Senior Researcher at ResearchAlum, said, "Through strategic collaboration among POSCO group companies, we are entering the electric vehicle and secondary battery markets and are currently negotiating the supply of body chassis battery covers for electric vehicles."
He added, "The lightweight automotive body chassis component ‘AL HPF (High-Pressure Formed Aluminum Body)’ is set to expand its application from internal combustion engine vehicles to electric vehicles."
Researcher Choi also stated, "We have developed a battery pack cover for electric vehicles that is cost-effective and highly safe, and we are currently negotiating supply with major overseas automakers."
POSCO Steel Sheet developed ‘ALCOSTA,’ an ICB (Inter Connect Board) cover for electric vehicle battery packs. Compared to existing sheets made entirely of aluminum, ALCOSTA adopts an aluminum plating method, enabling cost reduction. It also has the advantage of high ignition point, providing excellent safety.
POSCO Steel Sheet’s existing business division is also performing well. It processes cold-rolled steel sheets into color and coated steel sheets for sale. Due to increased infrastructure investment by governments worldwide and rising demand from the automotive and home appliance sectors, there is a shortage of steel sheet supply. The price of cold-rolled steel sheets, which was below $600 per ton last year, has exceeded $900 this year.
Researcher Choi analyzed, "As the increase in raw material prices is passed on to selling prices, profitability is improving," and added, "With the expansion of price spreads and yield improvements, we expect a 'surprise performance' in the first half of this year." He further noted, "It is expected that a revaluation will be possible as the company records its highest quarterly performance ever."
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