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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MATERIALS SECTOR
Lanxess (LXS GY) has announced a battery tech co-operation with IBU-tec (IBU GY) which has sent the latter’s equity up as much as 15% in early trade.
- Lanxess (specialty chemicals firm) is looking to develop next-gen LFP (Lithium-Iron-Phospate) batteries with manufacturer IBU-tec via “innovative iron oxides”, promising battery cost savings up to 50% and a scale European supplier of LFP cells.
- There are no financial terms in the release but IBU-tec is a small-cap firm so a co-operation in a growth field with a major global firm is understandably well received.
- Lanxess credit is streaming tighter this morning but has been a volatile set of credits which broadly traded wider through 4Q23 and, for example, the liquid ’25 line has moved through Evonik’s similar debt and not regained the form shown in 3Q23 (see graphic).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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