This Morning in Metals: POSCO Reports Strongest Quarter Since 2011

by on
Company News

gui yong nian/Adobe Stock

This morning in metals news, Korean steelmaker POSCO posted its highest quarterly earnings in seven years, Caterpillar cites tariffs are part of the reason for its slide and a German metals distributor’s third-quarter earnings were boosted significantly by higher prices.

Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook

POSCO Earnings

It was a strong quarter for South Korean steelmaker POSCO.

According to a Reuters report, in the third quarter the steelmaker posted its strongest quarterly earnings since 2011, powered by higher steel prices.

Caterpillar Continues Struggles

While tariffs have been good to some in the metals industry, manufacturers like Caterpillar have said the tariffs have negatively impacted them.

Caterpillar’s stock dropped 7.5% Tuesday, according to CNBC. The company announced a gloomier 2018 earnings guidance, weighed down by higher costs stemming from tariffs, per the report.

MetalMiner’s Annual Outlook provides 2019 buying strategies for carbon steel

Kloeckner and Co. Posts Strong Quarter

Meanwhile, German metals distributor Kloeckner and Co. reported a strong quarter, during which its earnings jumped 25.5%, Reuters reported.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.