South Korean gas pipeline and steel pipe-related stocks surged in early trading on September 3 after U.S. President Donald Trump reiterated that South Korea and Japan would participate in the Alaska liquefied natural gas (LNG) project.<\/p>\n
At around 9:40 a.m., Shinsung Steel (162300) soared to the daily price limit, trading at \u20a92,105 (approximately $1.5), up 29.86% from the previous session. Kumkang Steel (053260) also moved in the \u20a96,500 range (approximately $4.8), up around 21%, while TCC Steel (002710) posted gains of 15\u201318%. Dongil Steelux (023790) and Bukook Steel (026940) joined the rally, rising 13\u201319% and 10\u201313%, respectively. Other steel pipe and steel manufacturers, including KBI Dongyang Steel Pipe, Histeel, Moonbae Steel, and Nexteel, also recorded double-digit gains.<\/p>\n
The catalyst for investor sentiment was President Trump’s remarks. Speaking to reporters at the White House on September 2 (local time) while announcing plans to visit Alaska, he said: “We have Japan and South Korea. All of these people are going to Alaska to load fuel, load oil, build pipelines, and do everything else.”<\/p>\n
The comments came as Trump announced he would visit Alaska to support Republican candidate Dan Sullivan, who is running for a U.S. Senate seat from the state. Sullivan recently advanced to a runoff election against Democratic candidate Mary Peltola.<\/p>\n
The Alaska LNG project involves transporting natural gas produced in the North Slope region of northern Alaska via a new pipeline stretching approximately 1,300 kilometers to Nikiski, an ice-free port near Anchorage, where it would be liquefied and supplied to demand centers including Asia. Given that large-scale pipeline construction is essential to the project, market expectations have rapidly spread that South Korean steel pipe and steel manufacturers could see expanded order opportunities if the project moves forward in earnest.<\/p>\n
President Trump previously mentioned the possibility of South Korean and Japanese participation on January 20, when he introduced the Alaska pipeline project for exporting natural gas to Asia. At that time, he suggested that South Korea had pledged $350 billion and Japan $550 billion in U.S. investment through trade agreements with the United States, and that these funds could be directed toward the Alaska project.<\/p>\n
However, neither South Korea nor Japan has officially confirmed investment in the Alaska LNG project. The sharp rally on this day is interpreted as being driven by expectations created by President Trump’s repeated mentions, without any concrete contracts or orders having been confirmed.<\/p>\n","protected":false},"excerpt":{"rendered":"South Korean gas pipeline and steel pipe-related stocks surged in early trading on September 3 after U.S. President…\n","protected":false},"author":2,"featured_media":85008,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[53959,54114,13,54115,8,54116,54112,33,54118,54117,54111,54113],"class_list":["post-85007","post","type-post","status-publish","format-standard","has-post-thumbnail","category-japan","tag-alaska-lng-project","tag-bukook-steel","tag-donald-trump","tag-dongil-steelux","tag-japan","tag-kbi-dongyang-steel-pipe","tag-kumkang-steel","tag-nihon","tag-nikiski","tag-north-slope","tag-shinsung-steel","tag-tcc-steel"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/85007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/comments?post=85007"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/85007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media\/85008"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media?parent=85007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/categories?post=85007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/tags?post=85007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}