[Featured Stock] POSCO Chemical Surges on $13 Trillion Supply Contract VI Activation with GM
[Asia Economy Reporter Lee Seon-ae] POSCO Chemical's stock price is soaring. Following the announcement of a supply contract, the stock price triggered a VI and is showing an increase of over 10%.
As of 9:38 AM on the 28th, the stock price is trading at 129,000 KRW, up 11.21% compared to the previous trading day. During the session, it surged to 131,500 KRW.
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On the same day, POSCO Chemical disclosed that it signed a mid- to long-term supply contract with GM (General Motors) for high-nickel NCM cathode materials for EVs. The contract amount is 13,769,666,790,000 KRW, which corresponds to 692.1% of the 2021 sales. The contract period is from January 1, 2023, to December 31, 2025, totaling 1,095 days of supply.
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