Shares related to de-plasticization are rising across the board on news that the United States will completely blockade Iranian waters. As concerns grow over instability in the supply of naphtha, a plastic feedstock, expectations for spillover gains to alternative material corporations appear to be reflected.
As of 9:21 a.m. on the 13th, Jinyoung is trading at 2,315 won, up 255 won (12.38%) from the previous trading day. At the same time, Hankuk Package (8.25%), Ecoplastic (4.26%), and Serim B&G (13.94%) are also strong.
With the United States saying it will blockade Iranian waters and the Strait of Hormuz, the outlook that naphtha supplies, a plastic feedstock, will remain unstable for the time being appears to have boosted expectations for spillover gains in de-plasticization-related stocks.
U.S. President Donald Trump said on the 12th on social media Truth Social, after the collapse of U.S.-Iran armistice talks, that "the U.S. Navy will immediately begin blockade measures on all vessels entering or leaving the Strait of Hormuz."
The U.S. Central Command (CENTCOM) then said it would begin blockade measures on all maritime traffic entering and leaving Iranian ports starting at 10 a.m. on the 13th (11 p.m. on the 13th Korea time).