POSCO Holdings Inc (PKX) News

NLMK and POSCO enter into cooperation agreement.

NLMK Group (LSE: NLMK), Russia’s leading manufacturer of steel and HVA steel products, and South Korean POSCO Engineering & Construction have singed a General agreement of strategic cooperation to jointly implement investment projects to modernize blast furnace, steelmaking and rolling operation at the Lipetsk production site.

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In today

Buffett wants to buy more POSCO stock - POSCO

http://www.mineweb.co.za/mineweb/view/mineweb/en/page67?oid=96128&sn=Detail

The South Korean miner says Buffett had indicated he wanted to buy more POSCO stock

Posted: Tuesday , 19 Jan 2010

SEOUL (Reuters) -

South Korea's POSCO (005490.KS) said on Tuesday U.S. investor Warren Buffett, whose investment vehicle owns 4.5 percent of the world's No.4 steelmaker, had indicated he wanted to buy more POSCO stocks.

POSCO said in a statement that the U.S. billionaire said he wanted to own more POSCO stocks after missing the opportunity to buy them on dips last year when the global financial crisis depressed equity asset values.

The comments were made while POSCO chief executive Chung Joon-yang visited Buffett's Berkshire Hathaway (BRKa.N) (BRKb.N) headquarters in Omaha, Nebraska on Monday, POSCO said.

Shares in POSCO, worth $46 billion, have enjoyed steady recovery momentum since last year, more than doubling from a 2009 low in March to hit a two-year high of 633,000 won last week.

The shares were trading up 1.2 percent at 605,000 won as of 0359 GMT, versus a 0.25% gain in the broader market .

(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)

look for a move out of the gate in the morning -

OT: accelor-mittal cutting operations back - taking volunteers for layoffs -

out of my mind - look at that gap babyyyyyyyy -

whoomp, there it is - 31% after the gap, who's your daddy?

http://en.wikipedia.org/wiki/POSCO

low volume - this is going to be a bouncer -

Company Scores Poor Fundamental Grades -
MG currently has a SELL rating on POSCO (PKX), based on a final overall grade of 46.4 scored by the company's fundamental analysis. POSCO scores at the 54th percentile among all 5332 U.S. listed equities currently followed by MG. Our present rating dates to November 16, 2007, when it was downgraded from a BUY. Relative to the Steel sub-industry, which is comprised of 32 companies, POSCO's grade of 46.4 ranks 27th. The industry grade leader is CSN-CIA SIDERURGICA NACIONAL (SID) with an overall grade of 82.2. The stock has performed poorly in the last six months in relative terms, down 33.37% compared with the Steel sub-industry, up 11.82% and the S&P 500 Index, down 8.19%.

South Korea's Posco is one of the world's most profitable steelmakers. It produces 28 million tons of steel products per year, enough to manufacture 100,000 compact cars, and exports its steel products to more than 60 countries.

Posco's stock is now trading at about $136, down from its record of $201. That's nearly a 33% drop.

Some say Posco's earnings will suffer since iron ore prices are headed much higher. That would increase the cost of producing steel. But Posco is probably going to be able to pass much of those cost increases on to the end user. So I suggest looking at this one.