Looks like Posco will have to divest itself from several battery related JV's with China or it will be out of the US battery metals loop - due to the new US laws limiting Chinese involvement in the sector to 25%. Fortunately, Posco says it has escape clauses in their contracts with their Chinese JV partners. I certainly hope so or their product will not qualify for the IRA $7,500 tax rebate until Posco's China JV are dispensed with.
Most other Korean battery sector players share prices experienced a significant rise on the Monday news, while Posco's fell >2%.
Can anyone see any Chinese repercussions from the US stance? And presuming Posco resolves its US/China problem, does it mean PLS will benefit more readily from the US? - I just read this news on Bloomberg, so I'm still thinking about the outcome of opposing scenario outcomes.
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