In early trading on the 17th, OCI Holdings shares are falling more than 10%. After surging for two straight sessions on expectations of a supply deal with SpaceX, profit-taking appears to be emerging as the stock pauses for breath.
As of 10:21 a.m. on the 17th, OCI Holdings was trading at 268,500 won on the Korea Exchange, down 31,500 won (10.50%) from the previous session.
On the 15th, a report said OCI Terasors, OCI Holdings' Malaysian subsidiary, is set to sign a solar-grade polysilicon supply contract with SpaceX and is in the final stages of coordination. The industry sees the deal size at around 1 trillion won.
On the 15th and 16th, the share price jumped, setting a one-year high for two consecutive days.
Cho Jae-won, an analyst at Kiwoom Securities, said, "This event reaffirms demand for non-China polysilicon," and noted, "Expanding long-term contract volumes can enhance stability in terms of utilization rates and serve as a factor boosting corporate value."
However, some say the short-term impact on earnings is limited.
Cho added, "OCI Terasors' polysilicon production capacity (CAPA) is about 35,000 tons per year, and utilization of 80%–90% for 2026–2027 is already reflected in estimates," and "Even if additional contracts are signed, the room for a short-term increase in sales volume is limited."