South Korea's POSCO , the world's No. 4 steelmaker, expects its January steel sales to fall by around 27 percent to 1.9 million tonnes, hit by faltering demand, its chief financial officer said on Tuesday.
"We produce and sell around 2.6 million tonnes every month but sales are seen falling down to around 1.9 million tonnes this month (due to weak demand)," POSCO CFO Lee Dong-hee told reporters on the sidelines of a steel industry gathering.
POSCO plans to update its 2009 production plans on Thursday when it announces its fourth-quarter results.
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