The stock prices of related items to steel pipes (pipes made of iron) have been strong for days. This is believed to be due to the increasing possibility that South Korea will participate in the liquefied natural gas (LNG) project in Alaska, USA.
HISTEEL shares were traded at 4,865 won in the KOSPI market on the morning of the 14th at 9:15 a.m. The stock price increased by 21.02% (845 won) from the previous day. DONG YANG STEEL PIPE is also recording double-digit growth rates.
Other steel pipe stocks such as SeAH Steel, Husteel, and NEXTEEL were also traded at higher prices than the previous day. Reports that Mike Dunleavy, the Governor of Alaska, is expected to visit South Korea soon seem to have stimulated investor sentiment.
The Alaska LNG development project involves sending natural gas produced at the northernmost point of Alaska to the south through a gas pipeline approximately 1,300 kilometers long, then liquefying it for export to Asia and other regions. U.S. President Donald Trump noted in a previous congressional speech that South Korea and Japan would invest in this project.