Igusan Industry, a non-ferrous metal specialized manufacturer, is seeing its stock price rise by more than 18% in the stock market on the 19th, boosted by the increase in copper prices.
As of 10:02 AM on the same day, Igusan Industry's stock was trading at 7,120 KRW, up 18.27% compared to the previous day. Due to the short-term sharp rise in the stock price, the Volatility Interruption (VI) mechanism was triggered.
Igusan Industry, established in 1968, is a non-ferrous metal specialized manufacturer. It produces industrial copper and brass plates using copper as a raw material. Because of this, it has a business structure that becomes more profitable when copper prices rise.
The international copper (spot) price was trading at the low 8,000 USD per ton level at the beginning of this year, but started an upward trend from March, soaring past 9,600 USD per ton. The U.S. showing moves to impose large-scale tariffs on Chinese steel products is also interpreted as influencing the stock price increase.
Igusan Industry is also gradually increasing sales of electronic components by supplying terminals and lead frames for electric vehicle batteries.
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