Steel makes the world go around since it is related to property activity, infrastructure, and commodities demand such as for coal and iron ore.
When it comes to steel, South Korea’s Posco (PKX) is known as one of the sharpest and largest players globally. Even Warren Buffett owns a stake in the company, and it’s a major holding.
They just reported earnings today, whereby profit soared and they hiked global demand forecasts. They don’t expect a double dip from any part of the world and delivered good news for global commodities.