South Korea’s steelmaker POSCO has claimed the world’s most competitive steelmaker title for the seventh consecutive year.

POSCO said on Tuesday that it placed first on the global steel information service World Steel Dynamics(WSD)' rankings of global steelmakers by receiving eight-point-02 points out of a total ten points.

The South Korean steelmaker has grabbed the top place nine times since 2010.

WSD releases the rankings one or two times a year by rating 37 global steelmakers in 23 categories including technology, cost competitiveness and financial soundness.

Japan’s Nippon Steel and Sumitomo Metal came in second with seven-point-77 points, followed by the U.S.’ Nucor with seven-point-74 points.

South Korea’s Hyundai Steel ranked 12th.