UPDATED WEEKLY
The Hysteresis
Where battery markets lag — and leadSamsung SDI reported KRW 80.5 billion in AMPC credits last quarter. You won't find that in the English investor deck. It sits in a KRX regulatory filing, in Korean, and it reframes the July 30 comparison: LGES looks more credit-dependent than Samsung partly because LGES actually shows the dependency. We kept running into that same dynamic all week, from Ford Kentucky's BESS pivot to lithium-indexed contracts that miss the iron phosphate cost moving against them. The risk right now lives in the layer between what gets filed and what gets presented.
ISSUE #7
The Hysteresis
Samsung SDI reported KRW 80.5 billion in AMPC credits last quarter. You won't find that in the English investor deck. It sits in a KRX regulatory filing, in Korean, and it reframes the July 30 comparison: LGES looks more credit-dependent than Samsung partly because LGES actually shows the dependency. We kept running into that same dynamic all week, from Ford Kentucky's BESS pivot to lithium-indexed contracts that miss the iron phosphate cost moving against them. The risk right now lives in the layer between what gets filed and what gets presented.
ISSUE #7
Monday, July 27
