4) South Korean steelmaker POSCO saw Q4 earnings miss estimates. The 3rd largest steelmaker in the world cited sluggish demand and higher costs. Another problem: the company has been unable to raise prices, while its iron ore costs have been rising. As a result, it has been forced to focus more on cost-cutting efforts. Putting further pressure on its raw material prices recently are the major flooding in Australia and lower exports out of India.
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