[Market Focus] TC Materials Surges on News of Doubling Production to Meet US Power Infrastructure Cycle

TC Materials is showing strong performance. This is believed to be influenced by news that the company will double its production of rectangular copper wire and copper-clad steel wire (CTC) next year to respond to the global power infrastructure cycle, including in the United States.

As of 3:15 p.m. on December 22, TC Materials is trading at 4,260 won, up 11.66% from the previous day.

According to a media outlet, TC Materials announced that next year it will increase its production capacity of rectangular copper wire and CTC to 8,000 tons and 13,200 tons, respectively, for a total of 21,200 tons. This is nearly double the 12,400 tons produced this year. The company will also expand its production of enameled copper wire from 15,000 tons to 17,400 tons and ultra-high voltage cable materials from 6,000 tons to 7,000 tons.

Recently, TC Materials recorded a compound annual growth rate (CAGR) of 24.53% in sales, and aims to maintain high growth through the expansion of its facilities.

Meanwhile, TC Materials has secured global top-tier clients in power infrastructure, automotive electronics, and home appliances. Its power infrastructure clients include HD Hyundai Electric, Taihan Cable, LS Cable & System, HD Hyundai Heavy Industries, and Doosan. In automotive electronics, clients include Hyundai Motor and Doowon Climate Control, while in home appliances, they include Samsung Electronics, SK Energy, and POSCO.