South Korea’s Top Steelmaker Rethinks Battery Metal Investments
Posco Holdings Inc. said it will slow the pace of its planned investments in battery metals in the face of a supply glut and slowdown in demand growth for electric vehicles.
The South Korean steelmaker will reconsider or postpone increasing its presence in the refining of metals like lithium and nickel to after 2027, the company said in a statement as it released its first-quarter earnings. Most of the expansion was previously set to take place in 2026.