The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. REUTERS/Kim Hong-Ji/File Photo 

The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. Picture taken on July 20, 2016. REUTERS/Kim Hong-Ji 

The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. Picture taken on July 20, 2016. REUTERS/Kim Hong-Ji 

The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. Picture taken on July 20, 2016. REUTERS/Kim Hong-Ji 

The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. Picture taken on July 20, 2016. REUTERS/Kim Hong-Ji 

The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. Picture taken on July 20, 2016. REUTERS/Kim Hong-Ji 

The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. Picture taken on July 20, 2016. REUTERS/Kim Hong-Ji 

The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. Picture taken on July 20, 2016. REUTERS/Kim Hong-Ji 

The logo of POSCO is seen at the company's headquarters in Seoul October 21, 2011. REUTERS/Jo Yong-Hak/File Photo 

A man walks past a logo of steelmaker POSCO at the company's headquarters in Seoul October 25, 2010. REUTERS/Truth Leem/File Photo 

A POSCO plant is seen in Pohang, about 370 km (230 miles) southeast of Seoul, April 25, 2013. REUTERS/Lee Jae-Won/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH 'BUSINESS WEEK AHEAD MAY 30' FOR ALL IMAGES 

A worker checks a steel part at a steelworks in Seoul, South Korea, July 15, 2015. South Korean steelmaker POSCO said on Wednesday its quarterly operating profit rose 7.5 percent year-on-year, mostly in line with estimates, as weak steel demand continues to pressure margins. REUTERS/Kim Hong-Ji

A pocket calculator is seen on steel products stacked at a steelworks in Seoul, South Korea, July 15, 2015. South Korean steelmaker POSCO said on Wednesday its quarterly operating profit rose 7.5 percent year-on-year, mostly in line with estimates, as weak steel demand continues to pressure margins. REUTERS/Kim Hong-Ji

A woman runs past steel products stacked at a steelworks in Seoul, South Korea, July 15, 2015. South Korean steelmaker POSCO said on Wednesday its quarterly operating profit rose 7.5 percent year-on-year, mostly in line with estimates, as weak steel demand continues to pressure margins. REUTERS/Kim Hong-Ji

A worker stands on steel products stacked at a steelworks in Seoul, South Korea, July 15, 2015. South Korean steelmaker POSCO said on Wednesday its quarterly operating profit rose 7.5 percent year-on-year, mostly in line with estimates, as weak steel demand continues to pressure margins. REUTERS/Kim Hong-Ji 

A man works on steel products stacked at a steelworks in Seoul July 23, 2014. South Korea's POSCO said second-quarter operating profit fell at the quickest rate in three quarters as a strong local currency made the steelmaker's prices less competitive in an export market where demand growth has been weak. The world's sixth-biggest steelmaker by output on Thursday also trimmed its 2014 sales outlook, and said it expected demand in China, the world's top steel consumer, to rise slightly in the current quarter. Picture taken July 23, 2014. REUTERS/Kim Hong-Ji (SOUTH KOREA - Tags: BUSINESS) 

Steel products are pictured stacked at a steelworks in Seoul July 23, 2014. South Korea's POSCO said second-quarter operating profit fell at the quickest rate in three quarters as a strong local currency made the steelmaker's prices less competitive in an export market where demand growth has been weak. The world's sixth-biggest steelmaker by output on Thursday also trimmed its 2014 sales outlook, and said it expected demand in China, the world's top steel consumer, to rise slightly in the current quarter. Picture taken July 23, 2014. REUTERS/Kim Hong-Ji (SOUTH KOREA - Tags: BUSINESS) 

A worker takes a nap in front of steel products stacked at a steelworks in Seoul January 28, 2014. South Korean steelmaker POSCO, backed by billionaire investor Warren Buffett, reported a smaller-than-expected 29 percent gain in quarterly operating profit as the stronger won and weak demand sapped steel prices. REUTERS/Kim Hong-Ji (SOUTH KOREA - Tags: BUSINESS INDUSTRIAL) 

Steel products are pictured stacked at a steelworks in Seoul January 28, 2014. South Korean steelmaker POSCO, backed by billionaire investor Warren Buffett, reported a smaller-than-expected 29 percent gain in quarterly operating profit as the stronger won and weak demand sapped steel prices. REUTERS/Kim Hong-Ji (SOUTH KOREA - Tags: BUSINESS INDUSTRIAL) 

A plant of South Korea's steel maker, POSCO, is seen in Pohang, about 370 km (230 miles) southeast of Seoul April 25, 2013. South Korean steelmaker POSCO posted a 36 percent year-on-year drop in operating profit in the second quarter, slightly better than analysts' forecasts, as demand in top steel consumer China remained weak, depressing prices. The world's fifth-biggest steelmaker in terms of production said, on July 25, 2013, operating profit for the April-to-June period was 703 billion won ($631.7 million) compared to 1.1 trillion won in the same year-ago period. Picture taken April 25, 2013. REUTERS/Lee Jae-Won (SOUTH KOREA - Tags: BUSINESS) 

Joon Yang Chung, chairman and chief executive officer of POSCO steel, speaks during the Steel Success Strategies conference in New York, June 18, 2013. REUTERS/Lucas Jackson (UNITED STATES - Tags: BUSINESS) 

Joon Yang Chung, chairman and chief executive officer of POSCO steel, speaks during the Steel Success Strategies conference in New York, June 18, 2013. REUTERS/Lucas Jackson (UNITED STATES - Tags: BUSINESS) 

Joon Yang Chung, chairman and chief executive officer of POSCO steel, speaks during the Steel Success Strategies conference in New York, June 18, 2013. REUTERS/Lucas Jackson (UNITED STATES - Tags: BUSINESS) 

A POSCO plant is seen in Pohang, about 370 km (230 miles) southeast of Seoul, April 25, 2013. South Korean steelmaker POSCO, backed by billionaire investor Warren Buffett, posted only a small profit recovery from January to March, capped by the weak global economy and demand that depressed prices, especially for automotive steel. REUTERS/Lee Jae-Won (SOUTH KOREA - Tags: BUSINESS) 

A POSCO plant is seen in Pohang, about 370 km (230 miles) southeast of Seoul, April 25, 2013. South Korean steelmaker POSCO, backed by billionaire investor Warren Buffett, posted only a small profit recovery from January to March, capped by the weak global economy and demand that depressed prices, especially for automotive steel. REUTERS/Lee Jae-Won (SOUTH KOREA - Tags: BUSINESS) 

Demonstrators shout slogans as they hold placards during a protest against land acquisition inside Odisha Bhawan (house) in New Delhi February 4, 2013. The Odisha government resumed acquiring land for POSCO's planned $12 billion steel mill in the state amid protests, a government official said, raising hopes the South Korean steelmaker could accelerate a project pending since 2005. REUTERS/Adnan Abidi (INDIA - Tags: BUSINESS POLITICS ENERGY) 

A worker grinds iron at his steel product shop in Seoul January 29, 2013. POSCO, the world's No.5 steelmaker by output, reported a 45 percent fall in quarterly operating profit, missing a consensus forecast, as tepid demand and falling prices offset lower raw material costs helped by a firmer local currency. Steelmakers are struggling with a combination of a chronic oversupply and a tepid demand recovery in China, the world's top consumer of the alloy used in the construction, shipbuilding, automobile and home appliance sectors. REUTERS/Kim Hong-Ji (SOUTH KOREA - Tags: BUSINESS INDUSTRIAL) 

A worker welds iron at his steel product shop in Seoul January 29, 2013. POSCO, the world's No.5 steelmaker by output, reported a 45 percent fall in quarterly operating profit, missing a consensus forecast, as tepid demand and falling prices offset lower raw material costs helped by a firmer local currency. Steelmakers are struggling with a combination of a chronic oversupply and a tepid demand recovery in China, the world's top consumer of the alloy used in the construction, shipbuilding, automobile and home appliance sectors. REUTERS/Kim Hong-Ji (SOUTH KOREA - Tags: BUSINESS INDUSTRIAL) 

Villagers take a nap on a cycle rickshaw near the main entrance for Posco India project area at Kujanga block in Jagatsingpur district in the eastern Indian state of Odisha October 12, 2012. Odisha is one of India's poorest states, plagued for decades by Maoist groups that use violence to destroy infrastructure and disrupt industry. Most industrial projects have been stalled over land acquisition issues, accusations of corruption, environmental violations and a popular backlash against industry. Some have been dramatically scaled back. Picture taken October 12, 2012. REUTERS/Stringer (INDIA - Tags: BUSINESS ENERGY POLITICS EMPLOYMENT) 

A villager walks past closed Posco India transit camp at Balitutha in Jagatsingpur district in the eastern Indian state of Odisha October 12, 2012. TOdisha is one of India's poorest states, plagued for decades by Maoist groups that use violence to destroy infrastructure and disrupt industry. Most industrial projects have been stalled over land acquisition issues, accusations of corruption, environmental violations and a popular backlash against industry. Some have been dramatically scaled back. Picture taken October 12, 2012. REUTERS/Stringer (INDIA - Tags: BUSINESS ENERGY POLITICS EMPLOYMENT) 

Private security guards walks at the Posco India Odisha Project site office at Nuagaoan panchayat in Kujanga block in Jagatsingpur district in the eastern Indian state of Odisha October 12, 2012. Odisha is one of India's poorest states, plagued for decades by Maoist groups that use violence to destroy infrastructure and disrupt industry. Most industrial projects have been stalled over land acquisition issues, accusations of corruption, environmental violations and a popular backlash against industry. Some have been dramatically scaled back. Picture taken October 12, 2012. REUTERS/Stringer (INDIA - Tags: BUSINESS ENERGY POLITICS EMPLOYMENT) 

A pocket calculator is seen on steel products at a steel works in Seoul October 23, 2012. POSCO the world's fourth-largest steelmaker, posted a 25 percent drop in quarterly profit on Tuesday, as a cooling China economy sapped demand for automotive and shipbuilding steel. POSCO, the first major steel mill to report July-September earnings, posted an operating profit of 819 billion won on a parent basis, slightly below an average estimate of 840 billion won from 20 analysts polled by Reuters. REUTERS/Kim Hong-Ji (SOUTH KOREA - Tags: BUSINESS CONSTRUCTION ENERGY) 

A worker uses his mobile phone during a break at a steel works in Seoul October 23, 2012. POSCO the world's fourth-largest steelmaker, posted a 25 percent drop in quarterly profit on Tuesday, as a cooling China economy sapped demand for automotive and shipbuilding steel. POSCO, the first major steel mill to report July-September earnings, posted an operating profit of 819 billion won on a parent basis, slightly below an average estimate of 840 billion won from 20 analysts polled by Reuters. To match Story POSCO-EARNINGS/ REUTERS/Kim Hong-Ji (SOUTH KOREA - Tags: BUSINESS INDUSTRIAL CONSTRUCTION) 

A view of the signing ceremony between members of South Korean Kores-Posco consortium and Bolivia's state-run mining morporation COMIBOL in La Paz, March 27, 2012. COMIBOL signed an agreement with Kores-Posco consortium for the production of lithium cathodes from the Salar de Uyuni, according to local media. REUTERS/David Mercado (BOLIVIA - Tags: POLITICS BUSINESS) 

(L to R) South Korea's Posco CTO Kwon Oh-joon, Bolivia's evaporite resources manager Luis Alberto Echazu and Kores President and CEO Kim Shin-jong join hands during a signing ceremony in La Paz, March 27, 2012. Bolivia's state-run mining corporation COMIBOL signed an agreement with South Korean Kores-Posco consortium for the production of lithium cathodes from the Salar de Uyuni, according to local media. REUTERS/David Mercado (BOLIVIA - Tags: POLITICS BUSINESS) 

(top, L-R) South Korea's ambassador in Bolivia Chun Yung-woo, Bolivia's Mining Minister Mario Virreira and South Korea's National Assembly Deputy Lee Sang-deuk, (bottom, L-R) South Korea's Posco CTO Kwon Oh-joon, Bolivia's evaporite resources manager Luis Alberto Echazu, Kores President and CEO Kim Shin-jong and Bolivia's Deputy Minister of Productive Development Hector Cordova join hands during a signing ceremony in La Paz, March 27, 2012. Bolivia's state-run mining corporation COMIBOL signed an agreement with South Korean Kores-Posco consortium for the production of lithium cathodes from the Salar de Uyuni, according to local media. REUTERS/David Mercado (BOLIVIA - Tags: POLITICS BUSINESS) 

South Korea's National Assembly Deputy Lee Sang-deuk (C) speaks during a signing ceremony in La Paz March, 27, 2012. Bolivia's state-run mining corporation COMIBOL signed an agreement with South Korean Kores-Posco consortium for the production of lithium cathodes from the Salar de Uyuni, according to local media. REUTERS/David Mercado (BOLIVIA - Tags: POLITICS BUSINESS) 

An employee of POSCO talks on his mobile phone as he walks out of the company's headquarters in Seoul October 21, 2011. POSCO, the world's third-biggest steelmaker and backed by billionaire investor Warren Buffett, posted a 5.9 percent rise in profit for the third quarter, meeting consensus, thanks to higher sales volume and prices. REUTERS/Jo Yong-Hak (SOUTH KOREA - Tags: BUSINESS) 

A logo of POSCO is seen at the company's headquarters in Seoul October 21, 2011. POSCO, the world's third-biggest steelmaker and backed by billionaire investor Warren Buffett, posted a 5.9 percent rise in profit for the third quarter, meeting consensus, thanks to higher sales volume and prices. REUTERS/Jo Yong-Hak (SOUTH KOREA - Tags: BUSINESS LOGO) 

An employee of POSCO walks by a sculpture with POSCO's logo at the company's headquarters in Seoul October 21, 2011. POSCO, the world's third-biggest steelmaker and backed by billionaire investor Warren Buffett, posted a 5.9 percent rise in profit for the third quarter, meeting consensus, thanks to higher sales volume and prices. REUTERS/Jo Yong-Hak (SOUTH KOREA - Tags: BUSINESS LOGO) 

An employee of POSCO walks next to a sculpture with POSCO's logo at the company's headquarters in Seoul October 21, 2011. POSCO, the world's third-biggest steelmaker and backed by billionaire investor Warren Buffett, posted a 5.9 percent rise in profit for the third quarter, meeting consensus, thanks to higher sales volume and prices. REUTERS/Jo Yong-Hak (SOUTH KOREA - Tags: BUSINESS) 

Employees of POSCO walk near a sculpture with POSCO's logo at the company's headquarters in Seoul July 22, 2011. POSCO, the world's No. 3 steelmaker, met market expectations with a 17 percent fall in quarterly operating profit on Friday, hurt by firm raw material costs and cheaper products from Japanese rivals after the March 11 earthquake. REUTERS/Jo Yong-Hak (SOUTH KOREA - Tags: BUSINESS) 

Employees of POSCO walk out of the company's headquarters in Seoul July 22, 2011. POSCO, the world's No. 3 steelmaker, met market expectations with a 17 percent fall in quarterly operating profit on Friday, hurt by firm raw material costs and cheaper products from Japanese rivals after the March 11 earthquake. REUTERS/Jo Yong-Hak (SOUTH KOREA - Tags: BUSINESS) 

Supporters of Communist Party of India (CPI) hold placards during a protest in New Delhi June 24, 2011 against the planned construction of a $12 billion steel mill by South Korea's POSCO in the eastern Orissa state. REUTERS/Adnan Abidi (INDIA - Tags: CIVIL UNREST POLITICS BUSINESS) 

A supporter of Communist Party of India (CPI) holds a placard during a protest in the southern Indian city of Hyderabad June 24, 2011 against the planned construction of a $12 billion steel mill by South Korea's POSCO in the eastern Orissa state. REUTERS/Krishnendu Halder (INDIA - Tags: POLITICS BUSINESS) 

Supporters of Communist Party of India (CPI) talk as they attend a protest, in the southern Indian city of Hyderabad June 24, 2011 against the planned construction of a $12 billion steel mill by South Korea's POSCO in the eastern Orissa state. REUTERS/Krishnendu Halder (INDIA - Tags: POLITICS BUSINESS CIVIL UNREST) 

Farmers sort and arrange betel leaves on the doorstep of a house in Gobindpur village, about 75 km (46 miles) east of Orissa's state capital Bhubaneswar, June 22, 2011. Local protests have forced the poor eastern state of Orissa to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's POSCO, further delaying the biggest foreign direct investment in Asia's third largest economy. Farmers accuse the Orissa state government of being in cahoots with big business to trick them out of land their families have held for generations. Gobindpur is one of several villages from which people will have to be relocated for the plant. Picture taken June 22, 2011. To match Feature INDIA-POSCO/ REUTERS/Vivek Prakash (INDIA - Tags: POLITICS CIVIL UNREST BUSINESS SOCIETY) 

A boy carries his baby brother in his arms at the entrance to their house in Gobindpur village, about 75 km (46 miles) east of Orissa's state capital Bhubaneswar, June 22, 2011. Local protests have forced the poor eastern state of Orissa to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's POSCO, further delaying the biggest foreign direct investment in Asia's third largest economy. Farmers accuse the Orissa state government of being in cahoots with big business to trick them out of land their families have held for generations. Gobindpur is one of several villages from which people will have to be relocated for the plant. Picture taken June 22, 2011. To match Feature INDIA-POSCO/ REUTERS/Vivek Prakash (INDIA - Tags: POLITICS CIVIL UNREST BUSINESS SOCIETY) 

Children play a game of hopskotch on a grid drawn into the dirt in Gobindpur village, about 75 km (46 miles) east of Orissa's state capital Bhubaneswar, June 22, 2011. Local protests have forced the poor eastern state of Orissa to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's POSCO, further delaying the biggest foreign direct investment in Asia's third largest economy. Farmers accuse the Orissa state government of being in cahoots with big business to trick them out of land their families have held for generations. Gobindpur is one of several villages from which people will have to be relocated for the plant. Picture taken June 22, 2011. To match Feature INDIA-POSCO/ REUTERS/Vivek Prakash (INDIA - Tags: POLITICS CIVIL UNREST BUSINESS SOCIETY) 

Children gather at the entrance of their thatched hut in Gobindpur village, about 75 km (46 miles) east of Orissa's state capital Bhubaneswar, June 22, 2011. Local protests have forced the poor eastern state of Orissa to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's POSCO, further delaying the biggest foreign direct investment in Asia's third largest economy. Farmers accuse the Orissa state government of being in cahoots with big business to trick them out of land their families have held for generations. Gobindpur is one of several villages from which people will have to be relocated for the plant. Picture taken June 22, 2011. To match Feature INDIA-POSCO/ REUTERS/Vivek Prakash (INDIA - Tags: POLITICS CIVIL UNREST BUSINESS SOCIETY) 

A farmer arranges betel leaves in a basket in Gobindpur village, about 75 km (46 miles) east of Orissa's state capital Bhubaneswar, June 22, 2011. Local protests have forced the poor eastern state of Orissa to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's POSCO, further delaying the biggest foreign direct investment in Asia's third largest economy. Farmers accuse the Orissa state government of being in cahoots with big business to trick them out of land their families have held for generations. Gobindpur is one of several villages from which people will have to be relocated for the plant. Picture taken June 22, 2011. To match Feature INDIA-POSCO/ REUTERS/Vivek Prakash (INDIA - Tags: POLITICS CIVIL UNREST BUSINESS SOCIETY) 

Villagers sit at the entrance to a house in Gobindpur village, about 75 km (46 miles) east of Orissa's state capital Bhubaneswar, June 22, 2011. Local protests have forced the poor eastern state of Orissa to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's POSCO, further delaying the biggest foreign direct investment in Asia's third largest economy. Farmers accuse the Orissa state government of being in cahoots with big business to trick them out of land their families have held for generations. Gobindpur is one of several villages from which people will have to be relocated for the plant. Picture taken June 22, 2011. To match Feature INDIA-POSCO/ REUTERS/Vivek Prakash (INDIA - Tags: POLITICS CIVIL UNREST BUSINESS SOCIETY) 

A woman empties a bucket while standing next to a cow after washing cooking utensils at a transit camp for villagers who have been displaced in Jagatsinghpur district, about 75 km (46 miles) east of Orissa's state capital Bhubaneswar, June 22, 2011. Local protests have forced the poor eastern state of Orissa to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's POSCO, further delaying the biggest foreign direct investment in Asia's third largest economy. Farmers accuse the Orissa state government of being in cahoots with big business to trick them out of land their families have held for generations. Picture taken June 22, 2011. To match Feature INDIA-POSCO/ REUTERS/Vivek Prakash (INDIA - Tags: POLITICS CIVIL UNREST BUSINESS SOCIETY) 

A woman sits on the ground at a transit camp for villagers who have been displaced in Jagatsinghpur district, about 75 km (46 miles) east of Orissa's state capital Bhubaneswar, June 22, 2011. Local protests have forced the poor eastern state of Orissa to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's POSCO, further delaying the biggest foreign direct investment in Asia's third largest economy. Farmers accuse the Orissa state government of being in cahoots with big business to trick them out of land their families have held for generations. Picture taken June 22, 2011. To match Feature INDIA-POSCO/ REUTERS/Vivek Prakash (INDIA - Tags: POLITICS CIVIL UNREST BUSINESS SOCIETY) 

A man is seen silhouetted through fabric as he constructs a temporary shelter at a transit camp for villagers who have been displaced in Jagatsinghpur district, about 75 km (46 miles) east of Orissa's state capital Bhubaneswar, June 22, 2011. Local protests have forced the poor eastern state of Orissa to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's POSCO, further delaying the biggest foreign direct investment in Asia's third largest economy. Farmers accuse the Orissa state government of being in cahoots with big business to trick them out of land their families have held for generations. Picture taken June 22, 2011. To match Feature INDIA-POSCO/ REUTERS/Vivek Prakash (INDIA - Tags: POLITICS CIVIL UNREST BUSINESS SOCIETY) 

An activist from the Socialist Unity Centre of India (SUCI) burns an effigy of Orissa Chief Minister Naveen Patnaik as others shout slogans during a protest in Kolkata June 20, 2011. Dozens of the activists on Monday held a protest against India's environment ministry's approval of South Korean POSCO's plans to build a steel plant in Orissa, protesters said. REUTERS/Rupak De Chowdhuri (INDIA - Tags: CIVIL UNREST POLITICS BUSINESS) 

A man walks past a POSCO logo at the company's headquarters in Seoul April 22, 2011. POSCO, the world's No. 3 steelmaker, reported a 36 percent fall in quarterly operating profit, missing forecasts, hit by high raw materials costs and low demand. The global steel sector, seen as a barometer of the broader economy's health, is facing a margin squeeze as China continues to churn out record steel despite rising interest rates, while raw material costs remain high partly due to persistent rains in Australia delaying production recovery. REUTERS/Truth Leem (SOUTH KOREA - Tags: BUSINESS) 

People are seen through a sculpture of POSCO's logo at the company's headquarters in Seoul April 22, 2011. POSCO, the world's No. 3 steelmaker, reported a 36 percent fall in quarterly operating profit, missing forecasts, hit by high raw materials costs and low demand. The global steel sector, seen as a barometer of the broader economy's health, is facing a margin squeeze as China continues to churn out record steel despite rising interest rates, while raw material costs remain high partly due to persistent rains in Australia delaying production recovery. REUTERS/Truth Leem (SOUTH KOREA - Tags: BUSINESS) 

A man exits through a revolving door at POSCO's headquarters in Seoul April 22, 2011. POSCO, the world's No. 3 steelmaker, reported a 36 percent fall in quarterly operating profit, missing forecasts, hit by high raw materials costs and low demand. The global steel sector, seen as a barometer of the broader economy's health, is facing a margin squeeze as China continues to churn out record steel despite rising interest rates, while raw material costs remain high partly due to persistent rains in Australia delaying production recovery. REUTERS/Truth Leem (SOUTH KOREA - Tags: BUSINESS) 

Hwang Eun-yeon, executive vice president and chief marketing officer of POSCO, speaks during an interview with Reuters at the company's headquarters in Seoul March 24, 2011. South Korea's top steelmaker POSCO said on Thursday it had revised its sales volume target up by 1 million tonnes and will raise output to meet orders from clients in disaster-hit Japan. Hwang also told the Reuters Global Mining and Steel Summit that the world's third largest steelmaker is finding it difficult to pass on $160-$180 per tonne of increased costs to clients in the second quarter. REUTERS/Truth Leem (SOUTH KOREA - Tags: BUSINESS HEADSHOT)