posco holdings incs shares rallied monday amid growing bets on a recovery in steel demand and solid future growth in its batterymaterial business shares of the south korean steelmaking giant rose 785 to close at 398500 won 30273 outperforming the benchmark kospis 09 increase the stock advanced in seven of the past 10 trading sessions with retail investors remaining as net buyers for 15 straight sessions according to korea exchange data the recent rally in posco holdings shares likely reflects growing market expectations that chinas steel demand could rebound from the second half of 2023 hyundai motor securities analyst hw park said in a research note released friday citing a new order index for chinas steel sector that rose in march to above 50 for the first time in 34 months the steel giant could also get a strong valuation boost from its ever expanding batterymaterial business including its lithiumsupply affiliate he said hyundai motor securities maintained its buy rating and krw470000 target price on the stock the company is widely expected to return to a profit in the first quarter after a flooddamage recovery