POSCO Holdings reported improved first quarter 2026 earnings, driven by higher steel prices in South Korea and better product mix. Rising coking coal and iron ore costs remained the key challenge, compressing margins at its Pohang and Gwangyang steel complexes. The company continues to invest in its HyREX hydrogen steelmaking technology and battery materials business, positioning itself for long-term growth beyond traditional steel production as global decarbonisation pressure intensifies.