In early trading on the 15th, aluminum-related stocks are falling across the board. The selling appears to be continuing as concerns over supply-demand instability ease on expectations that talks between the United States and Iran will resume.
As of 9:49 a.m. that day, Sama Aluminium was trading at 51,900 won on the Korea Exchange, down 4,700 won (8.30%) from the previous session.
At the same time, Namsun Aluminum was also trading at 1,656 won, down 265 won (8.60%) from the previous session. Choil Aluminum was down 7.38% as well.
On the weekend, cease-fire talks between the United States and Iran collapsed, and the United States re-blockaded the Strait of Hormuz, intensifying concerns about supply disruptions in the Middle East, which accounts for about 9% of global production.
As a result, aluminum-related stock prices surged across the board over two days on the 13th and 14th.
However, on the 14th (local time), U.S. President Donald Trump said in a phone interview with the New York Post that, regarding end-of-war talks with Iran, "You really have to stay there," adding, "Because something could happen in the next two days, and our chances of going there have increased."
Trump's remarks were reportedly made while speaking by phone with a New York Post reporter in Islamabad.
Following Trump's comments, defense-related stocks have been repeatedly surging and plunging day after day, prompting warnings to exercise caution when investing in related shares.