[Featured Stock] OCI Rises Over 4% Amid Polysilicon Market Boom
[Asia Economy Reporter Minji Lee] OCI is showing a strong gain of over 4% during trading hours.
At 9:44 AM on the 6th, OCI was trading on the KOSPI market at 134,500 KRW, up 4.67% compared to the previous trading day.
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The continued strength in polysilicon spot prices is interpreted as reflecting expectations for improved earnings. According to KB Securities, OCI's estimated Q3 sales and operating profit are 910.1 billion KRW and 191.2 billion KRW, respectively, expected to increase by 94% and 954% year-on-year. Baek Young-chan, a researcher at KB Securities, stated, “The average selling price of polysilicon in Q3 is estimated to have risen about 15% compared to the previous quarter, linked to the rise in spot prices,” adding, “Performance improvement is expected in Q4 as well, and profit growth is predicted to continue through 2023.”
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