As has been the case since the beginning of the year, world steel production fell in August. The 3% y-on-y decline can be attributed to a deteriorating macroeconomic- and turbulent geopolitical environment. For the first eight months of 2022, global steel production dropped 5.1% y-on-y.
Merafe Resources announced the Q4 European ferrochrome benchmark price yesterday, quoting US$1.49/lb Cr down 17.2% q-on-q. Last week, Chinese stainless steel giant Tsingshan raised its ferrochrome tender prices by RMB300/t m-on-m to US$0.97/lb Cr.
Last week, antimony market participants met in Brussels for Antimony Day 2022. Project Blue presented a market overview and outlook.
Rio Tinto announced an investment of US$55M to go underground at its Kennecott Bingham Canyon mine in the USA, while Glencore acquires an additional stake in the Mara copper project in Argentina.
Lynas Rare Earths receives a US$9M investment from State-owned JOGMEC and Japanese trading house Sojitz Corp to support the Australian miner’s expansion plans.
Container shipping rates from China are down 58% and 70% year-on-year to Rotterdam and Los Angeles, respectively. The composite World Container Index has declined for 30 consecutive weeks.
NioCorp will acquire GXII, a US-based special purpose acquisition company (SPAC) and intends to be listed on the Nasdaq Stock Exchange soon after the acquisition closes.
Polyus, Russia’s largest gold producer, released its H1 2022 production results, which showed a 79% year-on-year drop in contained antimony production to 400t for the period from its Olimpiada mine.
Umicore and PowerCo, VWs new battery company, have agreed a joint venture (JV) for precursor and cathode materials production in Europe. By the end of the decade, the JV plans to produce materials for 160GWh cell capacity per year, which equates to approximately 2.2 million fully electric vehicles.
Last week, US Vanadium announced that it has completed a US$5.8M upgrade of its vanadium processing operations in Hot Springs, Arkansas, USA.
Reuters reported that stainless steel producer Aperam has halted further operations, suspending its eastern Belgian plant, which has access to wind and solar renewable energy.
Yesterday, Electra Battery Materials announced the signing of a three-year agreement to supply battery-grade cobalt to lithium-ion battery player LG Energy.
Solvay announced that the company will extend its rare earth separation capabilities to permanent magnet materials through an expansion at its La Rochelle plant in France.
The European Battery Raw Materials conference in Barcelona addressed a number of key challenges for building out an effective European battery supply chain. Constrained supply outlooks for battery-grade lithium and graphite were key points of discussion, with plans to classify lithium as toxic in Europe a notable potential own goal.
Energy Secretary Joao Galamba confirmed that the country will not commit to setting a new date for an auction of lithium mining licences as it awaits the conclusion of ongoing environmental impact studies at two potential mine sites.
Chinese investors Hong Kong Eagle International Investment and Pacific Goal Investment are set to build plants equipped to process metals including platinum, chromium, lithium and nickel.
The US Department of Defense (DoD) has awarded Perpetua Resources US$200,000 of funding to evaluate producing military-grade antimony trisulphide from its Stibnite Gold project in Idaho.
LPV aims to offer “pure play” exposure to physical vanadium while also addressing the costs associated with using vanadium in VRFBs.
Australian Strategic Materials’ subsidiary KSM Metals has signed a binding agreement with Korean company NS World for the sale of up to 10t of neodymium-praseodymium (NdPr) metal ingot from September to December 2022.