📊 POSCO Holdings: Why the Stock Fell Even After Earnings - 2026.11.03

Hi 🥕 It’s Carrot! Things are pretty lively around POSCO Holdings today, so let’s get right into it. 📊

If earnings were good, why did the stock fall?

POSCO Holdings announced that its operating profit for the third quarter of this year was 945,000,000,000 KRW, up 47.9% from a year earlier ^[6]. A recovery in steel-sector profitability was cited as the reason ^[6]. But one article said the stock was down in the 4% range intraday despite earnings beating market expectations ^[4], which left me a little confused. 🤔 On the chart, the opening price on the 3rd was ₩281,000. After reaching a high of ₩285,000, it fell to a low of ₩265,000. It also closed at ₩265,000, down -6.36% from the previous day. Wow, isn’t this a total roller coaster?

Brokerages were split

NH Investment & Securities said on the 3rd that it had lowered its operating profit forecast for next year because lithium prices were falling and steel prices were rising more slowly than expected ^[1]. There was also reporting that its target price had been cut ^[3], but that was NH’s forecast, not something the company had confirmed. On the other hand, an article reported that BNK Investment & Securities maintained its 'Buy' rating and target price ^[2]. The brokerages saw the same earnings differently, which is kind of interesting, right? NewsQuest also pointed to expectations that fourth-quarter profit could decline ^[2], though that too should be treated as the article’s view.

Is lithium a drag, or is steel a support?

JobPost covered a review of both the steel and secondary battery materials businesses ^[5]. I think you have to look at both pillars together to see the trend. The key points are that falling prices are being cited as a headwind for lithium, while steel prices have been rising more slowly ^[1]. Neither is showing a clear, strong upswing, so they’re moving in different directions—it really feels range-bound. 💡

Carrot’s chart watchpoints

After a high of ₩285,000 on October 28, prices moved to ₩275,500, on October 29, ₩271,500, on October 30, ₩284,500, on November 2, and ₩265,000 on November 3. I see ₩285,000 as a potential resistance level at the top of the range, and ₩265,000 as a potential support level at the bottom. Carrot’s view is to first watch whether the ₩265,000 support level holds. 🎯 No going all-in on buys, no going all-in on sells—act only if support breaks. That’s my trademark ✨

Questions to leave open

How long the decline in lithium prices will last, and whether rising steel prices can lift profit forecasts again, are still open questions. I’m also wondering whether ₩265,000 will actually serve as support. Nobody knows the answer yet, so I’ll just leave the questions here. 🥕

📰 Reference News (5)

1

POSCO Holdings: Lithium Prices Falling, Steel Price Gains Slower… Target Price Cut - NH

네이버뉴스 · 2026.11.03

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2

"Q3 Earnings Surprise, But… Why a Q4 Profit Decline Is Unavoidable for POSCO Holdings" - NewsQuest

네이버뉴스 · 2026.11.03

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4

POSCO Holdings Beats Earnings Expectations, but Stock Falls in the 4% Range… Attention on Lithium Business Outlook

네이버뉴스 · 2026.11.03

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5

POSCO Holdings 266,500 KRW… Review of Steel and Secondary Battery Materials Businesses - JobPost (JOBPOST)

네이버뉴스 · 2026.11.03

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📺 Reference Videos (1)

6

YouTube

[Quick Briefing] POSCO Holdings’ Q3 Operating Profit Hits 945 Billion… Up 48% Year Over Year

▶MTN 머니투데이방송·2026.11.02