[Asia Economy Reporter Hyungsoo Park] As the value reassessment of secondary battery-related stocks continues in the domestic stock market, Daebo Magnetic's stock price is also on the rise.
At 9:24 a.m. on the 26th, Daebo Magnetic was trading at 29,950 KRW, up 10.11% from the previous day.
Daebo Magnetic, the No. 1 company in the global iron removal equipment market, is the leading manufacturer of electromagnetic iron removers that eliminate iron or non-ferrous metals contained in raw materials. Its main products are dry electromagnetic iron removers used in secondary battery material processes and wet electromagnetic iron removers used in cell processes. The company mainly supplies to mines, cathode material, and anode material companies.
The main products are electromagnetic iron removers (EMF) and magnetic separators (MS). EMF is highly effective in removing trace amounts of iron contained in cathode materials, which have been identified as a cause of ignition in lithium secondary batteries. Daebo Magnetic's market share in the global electronic iron remover market for secondary batteries is estimated to be over 70%.
Daebo Magnetic stated that as the usage range of secondary batteries expands with electric vehicles and energy storage systems (ESS), demand for EMF equipment is rapidly increasing. Focusing on EMF based on its exclusive technology, the company is recording high sales growth rates.
Daebo Magnetic is investing in facilities to enter the new business sector of lithium crushing and processing materials. Through contracts with mining companies, it supplies crushed lithium hydroxide to cathode material companies as desired. By adding three new lines by the second half of this year, it is actively expanding its business in the secondary battery material sector.
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