POSCO
SEO:005490 ISIN:KR7005490008
POSCO is an integrated steel producer in Korea. The Company produced approximately 32.8 million tons of crude steel, during the year ended December 31, 2007 (including 2.5 million tons of stainless steel), a substantial portion, of which was produced at Pohang Works and Gwangyang Works. Pohang Works has 15 million tons of annual crude steel and stainless steel production capacity, and Gwangyang Works has an annual crude steel production capacity of 18 million tons.
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Yesterday the Australian share market closed 3.5 per cent down at fresh four-year lows, largely dragged down by banks and miners, wiping A$34 billion from the value of the market. The benchmark S&P/ASX200 index was 129.8 points, or 3.55 per cent lower at 3523.2, while the broader All Ordinaries lost 126.4 points, or 3.47 per cent, to 3513.1 led down by resource and banking stocks. Analysts said the market fell more than expected as it was closing to the end of short-selling ban.
The Australian share market closed lower yesterday despite a positive lead from US markets and the United States central bank's rescue of global insurer American International Group (AIG). Overnight Wall Street plunged more than 4% after the US Federal Reserve has announced it would provide AIG with an $US85 billion rescue loan to save it from bankruptcy.
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