SK On获NeoVolta美国ESS电池长单，SK Innovation盘中已涨超6%

SK Innovation (096770.KS) climbed more than 6% in early trading after its battery unit SK On signed a contract to supply battery cells for energy storage systems in the United States. Rising international oil prices added to the improvement in investor sentiment.
As of 9:47 a.m. on the 31st, SK Innovation traded at 124,200 won, up 7,300 won or 6.24% from the previous session, according to the Korea Exchange. The stock opened at 119,300 won and rose as high as 125,300 won during the session, widening its gains.
The advance is attributed to news that SK On, SK Innovation's battery subsidiary, has signed a large long-term battery cell supply contract in the U.S. energy storage system market. Expectations for the expansion of SK On's ESS business are drawing buying interest into the parent company as well.
A recent rebound in lithium prices, combined with expectations for entry into the U.S. ESS market, has also improved sentiment toward secondary battery stocks broadly. Samsung SDI (006400.KS), L&F and POSCO Future M (003670.KS) were among the major secondary battery shares posting gains.
Higher oil prices are also seen as a positive for SK Innovation's stock. The United States resumed airstrikes on Iran after a one-month pause, raising geopolitical tensions in the Middle East again, and concerns over crude supply disruptions have pushed international oil prices higher. For SK Innovation, which operates a refining business, expectations of improving refining margins from higher oil prices can support the share price.
SK Innovation shares have shown sharp volatility recently on company-specific developments. On the 25th of this month, the company announced it would absorb SK IE Technology (SKIET), which it spun off in 2019. Investor sentiment weakened as the stock fell sharply for two straight sessions after the merger announcement, but the shares have since recovered part of those losses and are now rebounding strongly with the added boost from SK On's order win.