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On Thursday, June 18, the Hang Seng Index opened down 166.97 points, or 0.69%, at 24,145.19; the Hang Seng Tech Index opened down 41.0 points, or 0.88%, at 4,628.07; the H-share Index opened down 71.31 points, or 0.88%, at 8,072.72; and the Red Chip Index opened down 22.5 points, or 0.54%, at 4,149.33.The Peoples Bank of China (PBOC) announced today that it conducted 248 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 248 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.Hong Kong stocks opened lower, with the Hang Seng Index down 0.69% and the Tech Index down 0.88%. MINIMAX-W (00100.HK) rose more than 3.8%, Pop Mart (09992.HK) fell more than 3.3%, and NetEase (09999.HK) fell more than 2.8%.Gold prices rose in early Asian trading on June 18 after the Federal Reserve kept interest rates unchanged overnight. DBS Group strategist Sherilyn Chew stated that while peace efforts between the US and Iran since the beginning of the week have supported gold prices, partially offsetting the impact of the Feds hints at a rate hike later this year, gold prices have tended to trade within a narrow range. This suggests that the recent rally is largely event-driven rather than supported by macroeconomic changes. However, central bank gold purchases are expected to remain strong, and market surveys indicate continued demand for increased gold reserves over the next year, which should provide medium-term support for gold prices. DBS Group expects gold prices to fluctuate within a range in the short term, and further gains are possible if bond yields decline.Hang Seng Index futures opened down 0.14% at 24,228 points, a discount of 82 points.

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.