Aluminum-related stocks were rising across the board in early trading on the 14th. Buying appears to be flocking on concerns over the aluminum supply chain after the United States imposed a counter-blockade in the Strait of Hormuz.
As of 9:54 a.m. that day, Namsun Aluminum was trading at 3,380 won, up 515 won (17.98%) from the previous session. At the same time, Choil Aluminum was also trading at 2,175 won, up 258 won (13.46%) from the previous trading day.
This appears to be due to mounting concerns over aluminum supplies as the United States recently blockaded Iran's maritime routes centered on the Strait of Hormuz. Middle Eastern countries produce 9% of the world's aluminum supply.
On the 13th (local time), the United States began a maritime blockade of Iran centered on the Strait of Hormuz. The blockade applies to all Iranian ports in the Gulf of Oman and the eastern Arabian Gulf of the Strait of Hormuz, and to vessels of all countries entering and exiting Iranian ports and coastal areas.
This is seen as a strategy by the United States to pressure Iran with a counter-blockade that cuts off the supply of war materiel into Iran, after Iran continued to control the strait despite a two-week truce agreement between the United States and Iran.