[Featured Stock] Huchems Rises on News of 360 Million KRW MNB Supply Contract... New High
[Asia Economy Reporter Song Hwajeong] Huchems is showing strong performance following the announcement of a supply contract for mononitrobenzene (MNB). It recorded a 52-week high during trading.
As of 10:36 AM on the 25th, Huchems was trading at 28,200 KRW, up 4,150 KRW (17.26%) from the previous day. During the session, the price rose to 28,500 KRW, setting a new 52-week high.
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On this day, Huchems disclosed that it signed an MNB supply contract worth 3.6854 trillion KRW with Kumho Mitsui Chemicals. Starting from March 1, 2024, Huchems will supply 370,000 tons of MNB to Kumho Mitsui Chemicals over 15 years. Of this, 170,000 tons is a renewal contract before the expiration of the existing contract (2009?2023). The sales price is linked to the prices of key raw materials, benzene and ammonia, as well as the exchange rate. The contract amount is equivalent to 621% of recent sales revenue.
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