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12.01.2009 Asia Steel Stocks Look a Steal as Prices Cheapest Since 2005 Asian steel stocks, battered by sinking demand amid the global recession, are starting to look like a steal.Even as prices of the metal begin to rebound, Pohang, South Korea-based Posco, and Shanghai-based Baoshan Iron & Steel Co. and the Asia Pacific’s other top 14 producers trade at an estimated average 6.2 times per-share earnings, the lowest since 2005. |
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