U.S. Chemical Stock Worth 9 Trillion Won Plummets 9% in One Day

Celanese Corp. (CE), listed on the New York Stock Exchange, closed at $62.03 on the 17th, down 9.23%, wiping out roughly $587 million—or nearly ₩800 billion—in market value. Trading volume reached about 2.13 million shares, above its average, and the company’s current market capitalization stands at approximately $6.9 billion (about ₩9 trillion).

Two days ago, Celanese declared a quarterly cash dividend of $0.03 per share, payable on May 11. This continues the low‐dividend policy that has been in place since last year’s significant payout cut. Last month, the company announced global price increases across its acetyl and engineered materials product lines, citing supply‐chain disruptions and rising costs; several institutions, including Wells Fargo, have since raised their ratings to “Buy.”

Headquartered in Texas, Celanese is a global chemicals and specialty materials firm supplying acetyl‐based basic chemicals and engineered polymers to the automotive, packaging, textile, and electronics industries. In recent years, profitability has been pressured by elevated debt from major acquisitions, an economic slowdown, and large impairment charges. In response, the company has pursued a restructuring plan that includes dividend reductions, divestitures of business units, and plant closures.