S.Korea Dongkuk Steel gains as steel plate demand seen rising

Dongkuk Holdings Co

29/08/2018 06:54

** Dongkuk Steel Mill Co Ltd  001230.KS , one of the
top-three steel plate producers in South Korea, surges as much
as 21.3 pct on expectations of rising demand for steel plate due
to higher shipbuilding orders 
    ** As the other two major steel plate producers, Posco
 005490.KS  and Hyundai Steel Co  004020.KS , are already
operating at high percentage capacity, rising demand from Q2
2019 will likely be met by Dongkuk Steel, says Lee Won-ju, an
analyst at KTB Securities
    ** Shares of Posco and Hyundai Steel gain 0.8 pct and 1.5
pct, respectively, while the sub-index for iron, steel & metal
 .KS34  edges up 0.9 pct
    ** Broader market  .KS11  up 0.2 pct as of 0534 GMT

 ((Reuters Messaging: joori.roh.thomsonreuters.com@reuters.net))