On the 9th, plastic alternative-related stocks were broadly higher in early trading. As the Strait of Hormuz was closed again, stoking anxiety over petrochemical feedstock supplies, buying appeared to gather on expectations of a windfall.

As the Middle East crisis drags on and supply issues persist for petrochemical products such as naphtha, a notice asking customers to purchase only the appropriate quantity of standard garbage bags is posted at a convenience store in Seoul on the 3rd. /Courtesy of News1

As of 9:59 a.m. on the KOSDAQ market, Hankuk Package was trading at 2,430 won, up 235 won (10.71%) from the previous session. At the same time, Jinyoung was trading at 2,180 won, up 216 won (11.00%) from the previous session.

In addition, Serim B&G (11.75%), Ecoplastic (7.41%), and Samryoong (3.03%) were also on the rise.

On the 8th (local time), Iran's Fars news agency reported, "As Israel carried out an airstrike on Lebanon, tankers transiting the Strait of Hormuz came to a halt."

Reuters, citing shipping industry sources, also reported that the Iranian navy threatened to destroy vessels attempting to pass through the Strait of Hormuz without authorization from Iranian authorities and that transit through the strait remains blocked.

Amid the recent Iran war and the resulting ongoing uncertainty in global supply chains, concerns are growing over the supply of naphtha, a key petrochemical feedstock used in plastics, synthetic fibers, and synthetic rubber.

As worries mount that supplies of plastic and vinyl will be disrupted, paper-based packaging, which fits the eco-friendly trend and can serve as a substitute material, is drawing attention as an alternative.

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