Is POSCO Capable Of Maintaining Its Growth Momentum In 2018?
Zacks Investment Research | Dec 27, 2017 10:04PM ET
Steel is crucial to economic well-being as it is used in construction, military application, infrastructure, machinery, appliances, transportation, agriculture, energy generation and many other end markets. This year has been outstanding for the steel producers of the United States, with a collective return of 22.4% yielded by these companies.
Today, we will discuss about South Korean steel producer — POSCO (NYSE:PKX) . The company is the largest steel producer in its homeland, with a market share of 52.3% in the first nine months of 2017. It also holds the fifth position in the global ranking issued by the World Steel Association for 2016. Currently, its market capitalization is approximately $24.2 billion.
In the first three quarters of 2017, POSCO performed well, with steel production totaling approximately 28 million tons. Also, the stock’s American Depository Receipts (ADR) have surged nearly 49.6% year to date, more than doubling the gain of 22.4% recorded by the Zacks Investment Research
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