[Featured Stock] TCC Steel Reassessed for Secondary Battery Nickel-Plated Steel Sheets... Operating Profit Soars 550% in H1

[Asia Economy Reporter Hyungsoo Park] TCC Steel is showing strong performance. As secondary battery material-related stocks are being re-evaluated for their corporate value in the domestic stock market, interest in TCC Steel's nickel-plated steel sheet business division appears to be increasing.

At 10:35 AM on the 24th, TCC Steel is trading at 8,030 KRW, up 11.53% from the previous day.

TCC Steel recorded sales of 242.3 billion KRW and an operating profit of 8 billion KRW in the first half of this year. These figures represent increases of 11.2% and 546.6%, respectively, compared to the same period last year.

Founded in 1959, TCC Steel is a surface-treated steel sheet manufacturer that holds a stable market position in the domestic tin-plated steel sheet market. In addition to tin-plated steel sheets, it diversifies its product lineup with nickel-plated steel sheets and electrolytic copper-plated steel sheets. Among the surface-treated steel sheet business divisions, electrolytic tin-plated steel sheets and electrolytic chromic acid-treated steel sheets account for 71.28% of total sales. Sales of nickel-plated steel sheets, which are secondary battery materials, are also steadily increasing.

TCC Steel developed nickel-plated steel sheets in 2000 and has been producing nickel-plated steel sheets for secondary batteries since 2009. It is the only company in Korea producing nickel-plated steel sheets. As the electric vehicle market grows, demand for nickel-plated steel sheets used in cylindrical batteries is also increasing. Currently, about 50,000 tons per month of nickel-plated steel sheets are produced on plating line number 1. Shinhan Financial Investment expects the nickel-plating division to be fully operational from next year and explained that there is land available in Pohang, so rapid expansion is possible through equipment purchases. They also forecast improved performance in the tin-plated steel sheet division as product prices are raised starting from the second half of this year.