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On April 1st, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, commented on the US March PMI data, stating that the US manufacturing sector has demonstrated encouraging resilience against the backdrop of the Middle East conflict. Business confidence in output for the coming year has also remained strong so far. This continued resilience stems partly from reduced concerns about government policies and also indicates that producers expect the impact of the war to be short-term and limited, although uncertainty remains. Currently, the impact of the conflict is still in its early stages, with soaring prices and delivery delays casting a shadow over the outlook and potentially pushing up inflation, dampening demand, and disrupting supply chains. Driven by soaring oil prices, factory input costs have risen sharply, and supplier delays are more prevalent than at any time since October 2022. As a result, some manufacturers are increasing inventories in anticipation of future price increases or supply shortages, and hiring has almost stalled to reduce labor costs, highlighting concerns that the war could cause problems for factories in the coming weeks.Federal Reserve Chairman Mussaleam: We can shrink our balance sheet by reducing the supply of reserves or reducing the demand for reserves.Federal Reserve Chairman Mossallem: It will take time for damaged infrastructure to be restored to operation.Federal Reserves Mossallem: We will be watching the ripple effects of the conflict on tighter financial conditions.Federal Reserves Barr: Has consistently opposed policy influencing regulation.

LG Energy inks supply contracts with three Canadian mining companies

Skylar Williams

Sep 23, 2022 11:13

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LG Energy Solution has sourcing agreements for lithium and cobalt with three Canadian mining companies in order to extend its operations in North America.


The deals, according to the Tesla (NASDAQ:TSLA) supplier, are part of an effort to expand mid- to long-term supply contracts with North American mines and processors.


LG stated that Electra, Avalon, and Snowlake will supply 7,000 tonnes of cobalt sulfate over the course of three years beginning in 2023, 55,000 tonnes of lithium hydroxide over the course of five years beginning in 2025, and 200,000 tonnes over the course of ten years.

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