Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
POSCO Future M Co. Ltd., formerly known as POSCO Chemical, said it would allot $461 million as an investment to build a new production plant for cathode. The company said it is making this move to increase its production capacity for the said industrial material that is mainly used in the manufacturing of batteries.
POSCO Future M said it would construct the new facility in Pohang, and once completed, it expects to have an additional 46,000 tons of cathode products. Its ultimate goal is to produce 345,000 tons per year by the end of 2025.
At present, the company’s local and overseas cathode manufacturing facilities have a combined capacity of 105,000 tons. This material regulates the power and range of electric vehicle (EV) battery cells. Cathodes make up over 40% of the total production cost of cells.
At any rate, the South Korean battery component manufacturer said on Monday, April 24, that to be able to meet the growing global demand for cathode, it will construct another plant in the said region. Yonhap News Agency reported that the company’s board issued approval for the planned KRW614.8 billion or $461 million investment.
The facility will rise at the company’s industrial complex in Pohang, which is located around 260 kilometers from the southeast side of Korea’s capital city of Seoul. It will be a factory for main battery components, including nickel, cobalt, manganese, and aluminum, which are also called the NCMA.
In a press release, POSCO FUTURE M shared that the construction of the cathode plant in Pohang will commence before the second half of 2023. The production and sale of the battery materials will start in 2025.
Meanwhile, it was noted that POSCO Future M is also building a high-nickel cathode plant in Canada which expects to yield 30,000 tons annually. This is a joint venture project of the company with General Motors.
