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On May 18th, Fu Linghui, spokesperson, chief economist, and director of the Department of Comprehensive Statistics of the National Economy at the National Bureau of Statistics, stated at a press conference held by the State Council Information Office that the national urban surveyed unemployment rate in April was 5.2%, a decrease of 0.2 percentage points from the previous month. Looking at the main employment group (aged 30 to 59), the surveyed unemployment rate also decreased compared to the previous month. These data reflect that employment has remained generally stable.On May 18th, ahead of the 618 shopping festival, Apples official flagship store lowered the price of all iPhone 17 Pro series phones by 1000 yuan, resulting in a surge in sales. Data from Tmall shows that in just three days after the sale began, searches for "iPhone" on Taobao and Tmall increased sevenfold compared to usual, with the iPhone 17 Pro series topping the sales charts in the 6000-10000 yuan price range. Affected by the continued rise in mobile phone storage prices, the memory price surge is expected to continue until at least the end of next year. The 618 promotion, with multiple platform subsidies and national subsidies, presents the best window for purchasing new phones. Following Apple, Huawei and Xiaomi also announced significant price adjustments, with the Huawei Mate X6 discounted by 3000 yuan and the Xiaomi 15 Ultra reduced by 1500 yuan.Hong Kong-listed chip stocks showed mixed performance, with GigaDevice (03986.HK) rising over 9%, Montage Technology (06809.HK) rising over 3%, and Hua Hong Semiconductor (01347.HK) and others following suit. Innoscience (02577.HK) fell over 5%, and Tianshu Zhixin (09903.HK) fell nearly 2%.The China Earthquake Networks Center officially reported that a 5.2-magnitude earthquake occurred in Myanmar (16.55°N, 96.25°E) at 10:05 a.m. on May 18, with a focal depth of 10 kilometers.Samsung Electronics shares rose to 6%.

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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