Fund Manager Riding 55% Posco Gain Sees Steel Prices Staying Hot

The rally in steel that helped propel Posco shares 55 percent higher this year may continue for another six months, according to a money manager who bought the stock when it was near a 12-year low. Baring Asset Management Korea Ltd.’s head of equities, Hyun Choi, said he started buying Posco shares in late 2015, after Korea’s biggest steelmaker posted its biggest loss in at least five years.