[Featured Stock] SeAH Steel Holdings Soars on Expectations of Increased Steel Pipe Profits

[Asia Economy Reporter Hwang Yoon-joo] SeAH Steel is experiencing a sharp rise for the second consecutive day amid expectations of increased steel pipe profits.

As of 9:53 AM on the 14th, SeAH Steel is trading at 151,000 KRW, up 9.82% (13,500 KRW) compared to the previous trading day.

On this day, Park Seong-bong, a researcher at Hana Financial Investment, stated, "We expect the total steel pipe sales volume in the first quarter of this year to reach 210,000 tons, a 0.7% increase compared to the previous quarter," and added, "Operating profit is expected to be 44.6 billion KRW, a 182.9% increase compared to the same period last year."

It is analyzed that the upward trend in domestic steel pipe prices will continue into the second quarter due to the global steel price strength, increases in domestic steel pipe raw materials, various auxiliary materials, and logistics costs.

Researcher Park also forecasted, "With a significant rebound in U.S. hot-rolled coil distribution prices, SeAH Steel's additional steel pipe export performance improvement in the second quarter is also possible."