Market Chatter: Posco Future M Wins KRW1.8 Trillion EV Battery Material Deal; Shares Rise 4%

MT Newswires Live

Sep 12, 2024

South Korean battery material and chemical manufacturer Posco Future M (KRX:003670) clinched a 1.8-trillion-won contract to supply high-nickel cathode materials for electric vehicle batteries, Yonhap News reported Wednesday.

Other details of the deal were not disclosed due to confidentiality terms, the report said, citing company officials.

Shares of Posco Future M rose nearly 4% in recent trade on Thursday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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