After U.S. President Donald Trump made remarks seen as optimistic about investment in the Alaska liquefied natural gas (LNG) project, steel pipe stocks were all rising early on the 21st.
As of 9:42 a.m., Daedong Steel was trading at 3,685 won, up 850 won (29.98%) from the previous session. It went straight to the upper price limit (the daily price increase cap) right after the open.
NEXTEEL (23.46%), Husteel (4.98%), and HISTEEL (17.74%), among related stocks, were also rising at the same time.
On Jan. 20, local time, Trump, the U.S. president, highlighted achievements related to the Alaska pipeline project during a briefing marking his first year in office.
Trump said, "We have launched a massive Alaska pipeline project to export natural gas to Asia," adding, "We secured an unprecedented level of funding as we concluded agreements with Korea and Japan."