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POSCO says sees modest gain in H2 steel prices

Mon Jul 13, 2009 3:02am EDT

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SEOUL, July 13 (Reuters) - POSCO (005490.KS), the world's No.6 steelmaker, predicted on Monday that global steel prices would rise slightly in the second half after bottoming out in the second quarter, as carmakers increase output and Chinese demand improves.

"We see the Chinese steel demand increase accelerating in the second half, driven by economic recovery," South Korea's POSCO said in a statement.

(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)



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