With investment sentiment shrinking rapidly enough to trigger successive sell-side circuit breakers on both the KOSPI and KOSDAQ, selling pressure is spreading across steel and steel pipe-related stocks overall.

U.S. stock markets closed mixed amid weakness in tech shares, and even with the halt in attacks between the United States and Iran, uncertainty over a ceasefire remains, weakening the momentum for a rebound in the domestic market.

Steel Stocks Fall One After Another

During the trading session on the 28th, among steel-related stocks, Hanil Steel is trading at 2,770 won, down 240 won from the previous trading day. The decline is 7.97%. The stock opened at 2,960 won and fell to as low as 2,665 won during the session, with a trading volume of 191,443 shares.

Specialty steel and steel processing-related stocks are also declining together. Keyston is trading at 4,050 won, down 6.25%, and TCC Steel is trading at 8,330 won, down 5.98%. Hwabest Fine Steel is also down 5.69% at 1,011 won.

Among steel pipe-related stocks, Nexsteel is trading at 11,120 won, down 5.36%. KBI Dongyang Steel Pipe is down 4.26% at 1,055 won, HiSteel is down 4.27% at 2,800 won, and Husteel is down 4.19% at 3,540 won. Hyundai BNG Steel is down 4.27%, falling 480 won to 10,750 won.

Weakness is also pronounced across small and mid-cap steel stocks. Bukuk Steel is down 3.81%, Dongkuk Industry is down 3.31%, Daedong Steel is down 3.14%, and A-ju Steel is down 3.05%.

SK Ocean Plant, which operates a business in offshore wind power substructures and large steel structures, is trading at 12,950 won, down 1,880 won, for a decline of 12.68%. The stock opened at 14,140 won on the day, fell to as low as 12,900 won during the session, and recorded a trading volume of 1,042,473 shares.

A Small Number of Stocks Rise or Hold Steady

However, not all stocks declined. Dongil Steelux is trading up 5.65% at 1,627 won, having risen to as high as 1,844 won during the session. Daeho Specialty Steel is up 0.11% at 921 won, and Comeron is unchanged at 19,140 won, showing stock-by-stock differentiation within the sector.

U.S. Markets Mixed, Middle East Uncertainty Persists

The U.S. market, which was the starting point for the domestic market's decline, closed mixed. The Dow Jones Industrial Average rose 0.51% to 52,210.08, and the S&P 500 index edged up 0.02% to 7,413.18. Meanwhile, the Nasdaq Composite closed down 0.18% at 24,932.08. The Philadelphia Semiconductor Index also fell 2.2%, heightening caution toward tech and semiconductor stocks.

The situation between the United States and Iran has seen a halt in attacks and growing expectations for negotiations, but it remains an unstable phase. The U.S. temporarily suspended its airstrikes on Iran, which had continued for about two weeks, and President Trump stated that negotiations with Iran are underway. However, he also indicated that attacks could resume if the negotiations fail to produce results, meaning the risk of military conflict has not been fully resolved.

International oil prices fell sharply on the news of the attack suspension, but this did not restore investment sentiment across risk assets in general. If the military situation in the Middle East deteriorates again, energy prices, maritime freight rates, and raw material procurement costs could be shaken once more, which could act as an indirect burden on the steel sector.

Future Variables

In the short term, it is necessary to monitor whether the declines on the KOSPI and KOSDAQ narrow and the intensity of selling by foreign and institutional investors. The progress of U.S.-Iran negotiations, international oil prices, the won-dollar exchange rate, China's steel demand and supply policies, and the order trends in domestic construction and shipbuilding industries are also key variables that will determine additional volatility in steel stocks.

[This article was written with the assistance of AI. This article is information for investment reference purposes and does not recommend buying or selling any specific stock. Intraday stock prices and trading volumes are subject to continuous fluctuation.]