South Korea's POSCO, expects the price of steel to recover to 2008 levels this year

South Korea's POSCO (005490.KS: Quote) forecast on Monday global steel demand would rise about 10 percent in in 2010, recovering to 2008 levels.

The world's No.4 steelmaker also expected iron ore and coking coal prices to recover this year, Park Myung-kil, a senior vice president at POSCO, said in a document released for a parliamentary economic forum.