[Featured Stock] SeAH Steel Holdings Surges Over 4% Amid North American Steel Pipe Market Boom...

[Asia Economy Reporter Minji Lee] SeAH Steel Holdings is showing an intraday rise of over 4%.

At 10:17 AM on the 17th, SeAH Steel Holdings was trading at 184,000 KRW, up 4.8% from the previous trading day.

Amid record-breaking first-quarter performance, the positive outlook for the North American steel pipe market has been favorably reflected in the stock price.

In the first quarter, SeAH Steel Holdings recorded sales of 448.8 billion KRW, a 39.5% increase compared to the same period last year, and operating profit grew 280.5% to 59.9 billion KRW. The previous highest profit was 71.7 billion KRW in 2008, but considering the spin-off of the plate business segment, this is analyzed as the highest profit ever achieved.

Seongbong Park, a researcher at Hana Financial Investment, explained, “In the second quarter, profit expansion is expected due to increased domestic sales volume and the rise in the KRW-USD exchange rate. In the second half of the year, tight supply and demand for North American energy steel pipes are expected to continue due to high oil prices and the U.S. ban on imports of Russian steel pipes, and orders for offshore wind power and liquefied natural gas (LNG) terminals are also anticipated.”