[Featured Stock] Huchems Plummets 10% on News of Hanwha Solutions' Own DNT Procurement
[Asia Economy Reporter Ji Yeon-jin] On the 30th, the stock price of Huchems, a KOSPI-listed company, plummeted following the news of Hanwha Solutions' new investment of 160 billion KRW in a nitrate derivative (DNT) facility.
As of 10:33 AM on the same day, Huchems was trading at 220,900 KRW, down 10.89% (2,800 KRW) compared to the previous day.
The company, which was separated from Namhae Chemical, specializes in precision chemicals and basic chemical products. It produces NA-series dilute nitric acid, concentrated nitric acid, nitrous acid, and NT-series DNT and MNB at its production facilities in the Yeosu Industrial Complex, Jeollanam-do. DNT and MNB are known to have a domestic market monopoly.
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Earlier, Hanwha Solutions announced that it would invest 160 billion KRW in new facilities to self-supply DNT, which it currently procures entirely from external sources.
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