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NH Investment & Securities projects a 53% increase in Hyundai Steel's operating profit by 2026, driven by rising steel prices in South Korea.
NH Investment & Securities analyst Y.K. Choi stated that Hyundai Steel is expected to achieve an earnings recovery due to rising steel prices in the Korean market. Anti-dumping duties on low-cost Chinese imports have led to a gradual increase in domestic steel prices in Korea, with hot-rolled and cold-rolled products rising by 26% and 15% respectively this year. Choi projects Hyundai Steel's operating profit to jump by 53% and 72% in 2026 and 2027, respectively. NH Investment & Securities initiated coverage on the stock with a "Buy" rating and a target price of 400,000 Korean Won. Hyundai Steel's shares were last up 2.9% at 33,350 Korean Won.
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