[Special Stock] Igusan Industry, Will Buy Copper Even If Expensive... Last Year's Net Profit 10 Times Higher, 'Reevaluation' Expected

[Asia Economy Reporter Hyungsoo Park] Igus Industrial's stock price is on the rise. This is interpreted as a result of heightened tensions after Russia deployed troops to the Donbas region in eastern Ukraine under the pretext of a 'peacekeeping force.'

As of 12:01 AM on the 23rd, Igus Industrial is trading at 4,770 KRW, up 11.06% from the previous day.

Prices of industrial raw materials have skyrocketed since last year due to supply chain disruptions. Recently, with the addition of the Ukraine crisis, copper prices have also been rising. Copper, nicknamed 'Dr. Copper' for its tendency to move ahead of the economy, continues to experience 'backwardation' (a phenomenon where futures prices are lower than spot prices). This is the result of an increasing number of buyers willing to pay higher costs to receive goods immediately.

Igus Industrial recorded sales of 334.4 billion KRW and operating profit of 35.5 billion KRW last year. Sales increased by 64.8% compared to the previous year, and operating profit rose by 503.5%. Net profit was 20.9 billion KRW, an increase of 10,004.5%.