South Korean steel manufacturer Hyundai Steel announced that its consolidated revenue in the second quarter of 2026 was 6.11 trillion Korean won ($4.40 billion), an increase of 6.4% compared to the previous quarter and 2.7% year-on-year due to increased sales volumes and higher prices for key products.
The company's consolidated operating profit rose to 58 billion won ($41.8 million) from 16 billion won in the previous year. in the previous quarter, although in the second quarter of 2025, this figure decreased from 102 billion won. Hyundai Steel also returned a net profit of 12 billion won after a net loss of 39 billion won in the first quarter.
On an independent basis, Hyundai Steel recorded an operating profit of 11 billion won, offsetting an operating loss of 73 billion won in the first quarter. In the previous quarter, against the background of increased sales of high-value-added products, higher selling prices and lower costs. Total steel sales increased by 3.7% compared to the previous quarter to 4.42 million tons, including 3.02 million tons of flat rolled products and 1.40 million tons of long rolled products. Sales of automotive steel increased to 1.28 million tons.
Looking to the future, Hyundai Steel expects domestic prices for flat and long products to remain at the same level due to lower imports at low prices, plant maintenance, supply adjustments and higher raw material costs. The steel company will continue to expand sales in the artificial intelligence and energy sectors, while simultaneously developing high-value products for next-generation nuclear power plants, hydrogen production pipelines, and components for hybrid vehicles.
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