As news spread that the Chinese government has suspended the customs clearance of industrial-use urea solution to South Korea, stocks related to urea solution are rising.
As of 10:08 a.m. on the 4th, KG Chemical traded at 7,440 won, up 11.21% from the previous trading day. Union rose 5.69% to 5,390 won, and Lotte Fine Chemical recorded a 3.33% increase to 58,900 won.
Amid reports that the General Administration of Customs of China blocked the customs clearance of urea sent by Chinese local companies to South Korea, concerns have grown that the urea solution shortage that occurred in 2021 could recur, which is interpreted as driving the stock price increase.
After export inspections were completed, customs clearance of urea solution was suspended at the shipping stage, and it is known that some of the companies whose shipments were held include major domestic corporations.
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