Steel pipe-related stock Dongyang Steel Pipe has hit the upper price limit for the second consecutive day.
As of 2:05 PM on the 4th, Dongyang Steel Pipe is trading at 1,175 KRW on the KOSPI market, up 271 KRW (29.98%) compared to the previous day.
Dongyang Steel Pipe also rose 29.89% the day before.
The consecutive two-day upper price limit is attributed to the government's announcement the previous day that oil and gas may be deposited in the offshore area of Yeongil Bay, Pohang, Gyeongbuk.
Experts say it is uncertain whether production is possible, and even if it is, whether it will be profitable, urging to monitor the progress closely.
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