South Korean iron and steel company Hyundai Steel announced consolidated financial results for the first quarter of 2026.
Accordingly, Hyundai Steel reported a net loss of 39 billion Korean won ($26.37 million) for the quarter due to currency volatility and higher raw material costs, compared to a net loss of 54 billion Korean won for the corresponding period in 2025. The company's sales revenue increased 3.1 percent year-on-year to KRW 5.74 trillion ($3.88 billion), driven by improved sales volumes despite challenging market conditions, and its operating profit was KRW 16 billion ($10.81 million) in the period, compared with an operating loss of KRW 19 billion in the first quarter of 2025.
In the first quarter, the company's total sales were 4.26 million tons, an increase of 3.3 percent year on year. Hyundai Steel's flat steel sales totaled 2.97 million tonnes, up 5.5% year-on-year.
While demand from the infrastructure, energy and artificial intelligence sectors is expected to rise, Hyundai Steel stressed that profitability will depend on raw material costs, exchange rate movements and global steel market dynamics. The company continues to focus on cost control, product mix optimization and expansion in the high-value and low-carbon steel segments.
