📉 POSCO Holdings: Steel and Lithium Variables Amid a Fluctuating Share Price - 2026.10.29

Hi, it’s Peanut 🥜 Let’s check the numbers together first today, too. POSCO Holdings’ share price has been fluctuating over the past few days, and articles reviewing both steel and secondary battery materials keep coming out ^[2]. But is that really the case? The trend may look clear from the headlines alone, but the underlying causes haven’t necessarily been confirmed.

📉 Let’s start by checking the share price numbers

According to the table, the closing price on October 27 was ₩276,500 and the daily change was +2.41% ^[2]. The following day, October 28, it recorded +1.99% at ₩282,000 ^[3], and on October 29 it fell as much as -2.66% to ₩274,500 ^[1]. Another outlet covering the same day gave a slightly different price range ^[4], which may be due to a difference in timing. So I’ve decided to rely only on the figures in the table for prices. Intraday swings were larger than expected, suggesting the market hasn’t reached an easy conclusion yet. The period is too short to read a trend from a day or two of gains and losses.

⚠️ Steel and lithium: what are the real variables?

The two focal points of this review are steel margins and lithium capacity utilization ^[2]. For steel, the question is whether margins are actually improving and how that aligns with the pace of an industry recovery. For lithium, the key issue is how closely utilization is tied to production. I think the first point to check is whether these two questions point in the same direction. These terms appear in the headlines, but within the material I reviewed, it’s difficult to find specific figures in the articles’ body text. Can this be verified? This is where we should pause and think. Even when the trend looks bullish, Peanut prefers to start by laying out the bearish scenario.

🛑 Let’s consider the bearish scenario, too

Even if the share price has a brief rally, there could be a value trap if steel margins don’t follow. In particular, if capacity utilization in secondary battery materials doesn’t rise as much as expected, the reason the holding company’s shares look cheap may remain even if they appear inexpensive. Another outlet reported an upward move during trading on October 27 ^[5], but even when the direction is the same, we need to look separately at whether the evidence is, too. It’s fine to follow the trend from a short- to medium-term swing perspective, but it’s risky to make a firm call on the direction itself. These articles don’t present plans confirmed by the company, so here I’m simply organizing the questions the market is raising.

💼 Questions that remain

The information available so far only gives us half the answer. The remaining variables are what figures will next confirm steel margins and lithium capacity utilization, and what caused the share price fluctuations. Until we have answers to those two questions, not letting myself be swayed by a single number feels like the best approach.

📰 Reference News (5)

1

POSCO Holdings falls 1.95% to 276,500 KRW…Steel and secondary battery materials reviewed together - JOBPOST

네이버뉴스 · 2026.10.29

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2

POSCO Holdings rises 2.41% to 276,000 KRW…Steel margins and lithium capacity utilization under review - JOBPOST

네이버뉴스 · 2026.10.27

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3

POSCO Holdings rises 1.99% to 281,500 KRW…Steel and secondary battery materials reviewed together - JOBPOST

네이버뉴스 · 2026.10.28

📰 View original

4

POSCO Holdings share price falls 3.01% intraday on October 29 to 273,500 KRW

네이버뉴스 · 2026.10.29

📰 View original