POSCO Attains Domestic Production of Steelmaking Electrode Rods

POSCO Holdings Inc. PKX has effectively localized the manufacturing technique for electrode rods, which are considered a critical element in the steel production process. Electrode rods are high-value-added carbon materials used in electric furnaces to melt steel scrap into molten iron or in refining procedures to eliminate impurities from blast furnace-produced molten iron. These rods convert electrical energy into thermal energy. The wider the diameter and electrode density, the higher the power output, which helps improve production efficiency.With the increasing emphasis on ESG management in the global steel market, interest in electric furnace operations that emit less carbon than traditional blast furnaces has risen significantly. This transition has resulted in a steady increase in demand for high-density electrode rods. POSCO Future M's successful localization of production technology for 300mm diameter high-quality UHP (Ultra High Power) electrode rods is projected to boost the competitiveness of the domestic steel sector. POSCO Future M, in particular, is expected to significantly contribute to stabilizing the domestic steel industry's production system by localizing electrode rod manufacturing technology using needle coke derived from coal tar, a byproduct of POSCO's steelmaking process. This is important given the expanding export controls on critical raw materials across various countries.PKX Stock’s Price PerformanceIn the past year, shares of PKX have lost 47.6% compared with the industry’s 25.8% decline.Image Source: Zacks Investment ResearchPKX’s Zacks Rank & Key PicksPKX currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Sylvamo Corporation SLVM and ATI Inc. ATI. Carpenter Technology currently sports a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 14.1%. The company's shares have soared 175.9% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.Sylvamo, which currently carries a Zacks Rank #2 (Buy), beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.7%, on average. SLVM’s shares have rallied 64.6% over the past year. ATI, currently carrying a Zacks Rank #2, beat the consensus estimate in three of the last four quarters and missing once, with the average earnings surprise being 3.7%. ATI has gained around 30.2% in the past year.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report POSCO (PKX): Free Stock Analysis Report ATI Inc. (ATI): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Sylvamo Corporation (SLVM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks