[Stock in Focus] Nam Sung Aluminum Soars 16% on Aluminum Supply Chain Concerns

Due to concerns over the aluminum supply chain stemming from the blockade of the Strait of Hormuz, Nam Sung Aluminum is showing strong performance.

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As of 9:28 a.m. on the 13th, Nam Sung Aluminum was trading at 3,340 won, up 16.58% (475 won) from the previous session.

Middle Eastern countries produce 9% of the world's aluminum supply. According to Samsung Futures, Emirates Global Aluminium, the largest aluminum producer in the Middle East, suspended some deliveries earlier this month following the Iranian attack. In addition, the Al Taweelah smelter, a major facility that produces 1.6 million tons annually, also halted operations as metal solidified inside the smelting furnace due to a power outage.

The U.S. military has moved to blockade the Strait of Hormuz in order to cut off Iran's energy funding sources. The main objectives of this operation are to block Iran's crude oil exports and to prevent the collection of transit fees through the Strait of Hormuz, thereby maximizing financial pressure on Iran.

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