[Market Focus] Copper and Aluminum Stocks Surge... Poongsan Rallies Over 5%

Recently, following the rise in gold and silver prices, copper and aluminum prices have also been climbing, leading to a rally among related stocks in the domestic stock market on January 30.

As of 10:33 a.m. on this day, shares of Poongsan were trading at 136,000 won per share, up 5.02% from the previous session. Poongsan, a manufacturer of copper and non-ferrous metal products, is considered a leading copper-related stock. Taihan Cable and Iljin Electric, both known to be significantly affected by copper prices, were also showing gains of 3% to 4% each.

Sama Aluminium, an aluminum-related stock, was up 14.64% from the previous session, trading at 35,650 won. Joil Aluminium and Namseon Aluminium were also up by around 2%, confirming strong performance across aluminum-related stocks.

This is interpreted as a result of the recent surge in copper and aluminum prices, following record highs in gold and silver.

According to the New York Mercantile Exchange, on the 29th (local time), copper futures were trading at $6.21 per pound, reaching a new 52-week high. The price has risen by more than 20% over the past three months. Aluminum prices are also strong. Bloomberg recently reported that the premium on aluminum delivered to the United States has surpassed $1 per pound.