QUOTE AND NEWS
Market Intelligence Center  Feb 26  Comment 
The patented option trade-picking algorithms behind MarketIntelligenceCenter.com's Artificial Intelligence Center have selected a covered call trade on POSCO (PKX) that includes 9.62% downside protection. Sell one contract of the Aug. '15 $60.00...
Market Intelligence Center  Feb 23  Comment 
POSCO (PKX) presents a trading opportunity that offers a 3.25% return in just 81 days. A covered call on POSCO at the $60.00 level expiring on May. '15 offers an assigned return rate of 3.25% or 14.66% annualized. This trade offers 4.52%...
Market Intelligence Center  Feb 17  Comment 
POSCO (PKX) presents a trading opportunity that offers a 4.28% return in just 87 days. A covered call on POSCO at the $60.00 level expiring on May. '15 offers an assigned return rate of 4.28% or 17.94% annualized. This trade offers 5.73%...
Reuters  Feb 13  Comment 
South Korean steelmaker POSCO has signed a preliminary deal with Saudi Arabia's Public Investment Fund (PIF) to sell part of its construction unit for about 1.5 trillion won ($1.36 billion), Korea Economic Daily reported.
Market Intelligence Center  Feb 11  Comment 
For a hedged play on POSCO (PKX) MarketIntelligenceCenter.com’s patented trade-picking algorithms recommend the May. '15 $60.00 covered call for a net debit in the $57.01 area. That is also the break-even stock price for the covered call. This...
The Hindu Business Line  Feb 8  Comment 
Centre says Posco cannot have prioritised access to iron ore deposits
Reuters  Feb 5  Comment 
South Korea's POSCO will have to bid for an iron ore licence to feed its planned $12 billion steel plant in India, a minister said, in a setback for the company that was expecting the government to allocate it a mine without any competition.
The Economic Times  Jan 30  Comment 
Shares in POSCO plunged 7.7 per cent after the company posted weaker-than-expected fourth quarter earnings on slowing demand from China.
The Times of India  Jan 22  Comment 
South Korea's POSCO inaugurated a $709 million steel mill in western India on Thursday, looking to gradually scale up its presence in the emerging market despite having to wait for a decade to get started on a $12 billion steelmaking plant.
The Hindu Business Line  Jan 19  Comment 
Odisha state wants New Delhi to grant an iron ore exploration licence to South Korea's POSCO for its proposed $12 billion steel plant in the state, seeking an exception to a rule mandating auction...




 

POSCO steel producer in Pohang, South Korea. Incorporated in 1968, it was able to produce 32.8 million tons of steel in 2007. 2/3rds of its revenues comes from the South Korean Domestic market. However, other major countries are increasing their business with the once number 1 steel producer in the world. (In 2008, Arcellor Mittal became number 1.) Of the foreign revenue, China is the largest customer with 30%, the Japan with 20%. The rest of Asia makes for the rest of the revenue. It is important to note that India's demand market for steel has been growing and with good relations between South Korea and India on a number of cross-border transactions, most notably Tata Motors Ltd.'s acquisition of Daewoo Commercial Vehicle (now Tata Daewoo Commercial Vehicle), POSCO has built a major office in India.

POSCO's products include, but not limited to, hot rolled and cold rolled products, plates, wire rods, silicon steel sheets and stainless steel products. It is also known for preparing steel for manufacturing, most notably in Shipbuilding.



History

The formation of POSCO came about as a result of the Korean government's desire for self-sufficiency in iron and steelmaking, with availability of local steel seen as important for Korea's economic development. With construction of the Pohang works stared in 1970 , and of the Gwangyang Works in 1983, part-privatisation of the company took place in 1988. By 1998, the South Korean government had reduced its equity ownership to less than 20%.

POSCO shed its former name (the Pohang Iron and Steel Company) in 2002, and it is shortly after this point that a more international approach to business development set in[1]. This approach saw much greater emphasis placed on foreigh investment and in joint ventures outside Korea, including:

  • participation in the Benxi cold-rolling joint venture in China in 2004
  • construction of the Zhangjiagang stainless steel plant in China in 2005
  • agreement with the government of Orissa, India about investment in a greenfield integrated steel plant in 2005
  • acquisition of a majority stake in Vietnamese steelmaker Asian Stainless Corp in 2009
  • completion of a zinc coated sheet investment in Mexico in 2009.


References

  1. History of POSCO
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki