Shares of Enchem, a secondary battery electrolyte materials specialist, surged in early trading on the 28th. Buying is seen concentrating on news that it is set to sign a large-scale contract.
As of 9:26 a.m. that day, it was trading at 74,000 won, up 13.32% (8,700 won).
Earlier, Enchem said on the 27th that it is set to sign an electrolyte supply contract for 70,000 tons per year with a global top-tier cell manufacturer that leads the global battery market.
The contract totals 350,000 tons over five years starting next year, and is expected to amount to about 1.5 trillion won based on the current unit selling price of electrolyte.
Industry sources suspect the counterparty is China's CATL, the world's No. 1 battery maker.
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