📉 POSCO Holdings: Testing Its Valuation Amid Smooth Sailing in Steel and Lithium - 2026.09.01

Hi, it’s Peanuts. Today’s key issue for POSCO Holdings is the gap between the assessment that steel, energy, and lithium are all sailing smoothly and whether that optimism has been verified by actual figures. The September 1 closing price moved +0.89% from the previous trading day to ₩341,500, while it rose as high as ₩351,000 intraday. The mood is clearly strong, but from a fundamentals perspective, isn’t it still too early to put sentiment and earnings in the same basket?

Who is saying steel, energy, and lithium are sailing smoothly? 💼

Asia Economy reported that POSCO Holdings’ steel, energy, and lithium businesses were all viewed as sailing smoothly, alongside an increase in its target price ^[1]. However, this is an external assessment, not a business result confirmed by the company. It should be viewed separately from facts verified through the company’s earnings announcements or business disclosures.

Eugene Investment & Securities also analyzed POSCO Holdings as a company growing into lithium beyond steel ^[4]. In other words, the view of lithium as a second growth engine is continuing. But simply calling it a growth engine does not mean its profit scale or asset value has already been proven. Is that really the case? Ultimately, the figures that need checking are likely to narrow down to lithium production, sales, and profitability.

Steel-bottom expectations and new-business value are reflected in the share price 📊

JobPost reported that POSCO Holdings surpassed the 350,000 KRW level intraday, driven by expectations that the steel cycle could be passing its bottom and by the growing visibility of the value of new businesses, including lithium. It also explained that the gain later narrowed as some investors took profits ^[3]. This flow shows expectations and verification appearing together on the same screen.

Looking at recent price data, the August 31 closing price was ₩338,500, and the stock closed at ₩341,500 on September 1. Although the closing price moved over the two days, it is difficult to confirm from a single day’s price that the steel cycle has passed its bottom or that lithium’s value has become real. The share price is the menu; the actual bill appears in quarterly earnings.

Lithium business financing news should be viewed separately ⚠️

POSCO Argentina secured a borrowing facility worth 700,000,000 USD from IDB Invest, an international financial institution. This funding support concerns POSCO Holdings’ brine-lithium business in Argentina ^[2]. It is true that this adds material for examining business progress, as it is financing news connected to the lithium supply chain.

However, securing a borrowing facility cannot be read immediately as revenue or profit. How the funds are used at each business stage, and how quickly production and sales follow, require separate verification. Even when a single figure looks large, the basics of calculating corporate value require cash inflows, investment burdens, and profit conversion to be considered separately.

Bearish variables remaining for short- to medium-term swings 🛑

The bullish scenario combines expectations for a recovery in the steel cycle with the assessment of lithium as a growth engine. On the other side is the risk that expectations may run ahead of actual earnings, creating the possibility of a value trap. If the steel recovery is delayed or verification of lithium production, sales, and profitability takes longer, the gap between external forecasts, such as raised target prices, and actual value could widen.

From a short- to medium-term swing perspective, the more important verification points are a recovery in steel earnings and the conversion of the lithium business into measurable figures, rather than today’s strong price action. Peanuts believes the first priority is to see whether the optimism can be verified through quarterly earnings and business-progress materials, rather than optimism itself. There is one question left: when will it be confirmed that the assessment of smooth sailing in steel, energy, and lithium has led to actual earnings improvement and progress in the lithium business?

📰 Reference News (4)

1

[Click e] “POSCO Holdings, steel, energy, and lithium all sailing smoothly… target price raised” - Asia Economy

아시아경제 · 2026.09.01

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3

Money is flowing back into steel stocks… POSCO Holdings hits 350,000 KRW and gains in the 1% range - JobPost (JOBPOST)

네이버뉴스 · 2026.09.01

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4

[Report Briefing] POSCO Holdings, ‘Beyond steel to lithium, POSCO’s second national service’ target price 490,000 KRW - Eugene Investment & Securities - Newspim

뉴스핌 · 2026.09.01

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