October 14, 2008 / 7:47 AM / 11 years ago

POSCO says may up steel prices,plans no output cut

SEOUL (Reuters) - POSCO (005490.KS), the world’s No.4 steelmaker, said on Tuesday its profitability was not likely to fall sharply next year, despite weakening steel prices, as its product prices remain cheaper than those of its rivals.

“We have price competitiveness... and we are considering raising prices of certain products such as ship plates to narrow the gap with our rivals,” Hwang Eun-yeon, POSCO’s senior vice president for marketing, told analysts and reporters.

The South Korean company also said it was not joining global rivals in cutting output to shore up flagging prices.

Reporting by Miyoung Kim; Editing by Keiron Henderson

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