[Featured Stock] POSCO Inter Rises on US and Europe Rare Earth Permanent Magnet Supply Boost

POSCO International is showing strong performance in early trading on the 12th following news that it will supply rare earth permanent magnets for electric vehicles to automakers in the United States and Europe.

As of 9:18 AM on the same day, POSCO International is trading on the KOSPI market at 56,700 KRW, up 5.39% from the previous close. The trading volume is about 320,000 shares, with a transaction value of approximately 18.1 billion KRW.

POSCO International's U.S. subsidiary announced on the 12th that it recently signed a supply contract worth 900 billion KRW for permanent magnets with a U.S. automaker. The supply period is from 2026 to 2031. The supplied permanent magnets will be installed in the drive motors of mid-to-large new electric vehicle models from the automaker. The company's German subsidiary also signed a supply contract worth 260 billion KRW for permanent magnets with a European premium automaker. The supply period is from 2025 to 2034.

The market views POSCO International as having established a 'de-China' supply chain by producing products that exclude the use of Chinese rare earths. Currently, over 90% of rare earths in the global market are sourced from China. The permanent magnets ordered by POSCO International use raw materials sourced from the U.S., Australia, and Vietnam instead of Chinese rare earths.

This content was produced with the assistance of AI translation services.