[Featured Stock] Mirainanotech Rises on Lithium Price Increase and More

[Asia Economy Reporter Junho Hwang] On the 27th, Mirae Nanotech, a company specializing in LCD optical films, showed strong performance in the stock market.

On this day, Mirae Nanotech recorded 14,800 KRW, up 8.82% from the previous day. The rise appears to be due to the increase in lithium prices and the news that Mirae Advanced Materials, which was incorporated as an affiliate earlier this year, will build a lithium hydroxide manufacturing plant and expand production facilities on a 5,032㎡ site in the Dal-Sang 2nd Industrial Complex by 2024.

According to Korea Resource Information Service on the previous day, the current price of lithium carbonate reached a record high of 485.5 yuan per kilogram (approximately 97,285 KRW). This price is about three times higher compared to September last year.

With the construction of the lithium hydroxide manufacturing plant, Mirae Advanced Materials will establish a large-scale lithium hydroxide production system of about 40,000 tons annually. The production plant is scheduled to begin construction in October and start mass production from the first quarter of next year. Lithium hydroxide, a key raw material for batteries, is a core material for cathodes and plays a role in generating electricity by moving between the cathode and anode in batteries.