Asian Stock Markets Start New Year Higher as Tech and AI Shares Drive Gains 
South Korea Exports Hit Record High as Global Trade Momentum Builds 
Proposed Rio Tinto–Glencore Merger Faces China Regulatory Hurdles and Asset Sale Pressure 
Pop Mart Shares Surge in Hong Kong After First Buyback in Nearly Two Years 
Lululemon Founder Chip Wilson Escalates Proxy Fight to Remove Advent From Board 
Trump Delays Tariff Increases on Furniture and Cabinets for One More Year 
U.S. Stocks Slip as Gold Rebounds Ahead of Year-End, Markets Eye 2026 Outlook 
China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry 
Federal Reserve Begins Treasury Bill Purchases to Stabilize Reserves and Money Markets 
United Airlines Posts Record Q4 Revenue as Premium Demand Lifts Earnings 
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy 
Citi Forecasts a Volatile but Ongoing Bull Market for S&P 500 in 2026 
Oil Prices Slide in 2025 as Oversupply and Geopolitical Risks Shape Market Outlook 
OpenAI Launches Stargate Community Plan to Offset Energy Costs and Support Local Power Infrastructure 
South Korea Factory Output Misses Forecasts in November Amid Ongoing Economic Uncertainty 
Netflix Stock Slips After Earnings as Soft 2026 Guidance Overshadows Subscriber Milestone 
POSCO Chemical inked a six-year deal with Ultium Cells LLC, the US-based company that was established via the joint venture between General Motors and LG Energy Solution. The contract is for the supply of synthetic graphite anode materials.
POSCO Chemical’s deal with the GM-LGES joint venture firm is said to be worth $688.6 million, and this was announced by the company on Monday, Dec. 5. The agreement involves large-scale delivery of artificial graphite anode material to Ultium Cells to help expand the battery cell production for electric vehicles in the United States.
As per The Korea Herald, the agreement came just a year after the chemical arm of the POSCO Group completed the construction of its plant in Pohang, located in North Gyeongsang Province. It was built to localize the manufacturing of artificial graphite anode materials. Before the Pohang plant was built, the said raw materials were mostly produced in China.
LGES and General Motors launched Ultium Cells LLC battery cell production earlier this year in Ohio. it was established to support the latter’s expanding portfolio of EVs. The companies are also opening a second plant in Tennessee next year while a third one is being constructed in Michigan.
Based on the regulatory filing, the South Korean chemical company will start the battery supply of key materials for battery production in 2023 and will continue until the last quarter of 2028. Artificial graphite anode materials are the main components used in making EV batteries and offer faster recharging speed. This can also prolong battery life.
“The six-year, KRW 939.3 billion agreement calls for artificial graphite anode materials produced at the Pohang plant to be supplied to Ultium Cells, a battery joint venture between General Motors and LG Energy Solution,” POSCO Chemical stated in a press release.
"As the only anode materials company in Korea, we have set up a complete value chain from raw materials to materials production, and our business competitiveness through the expansion of our product portfolio has led to securing a contract," the company’s chief executive officer, Min Kyung Zoon said in a separate statement.
He added, "Based on our stand-alone technology and competitiveness in raw materials, we will push for expanding global customers and become a global top-tier battery materials company by fostering the anode and cathode materials businesses in a balanced way."
