Metal

Chile’s SQM, the world’s second-largest lithium producer, reported a 20% drop in Q1 net profit ($137.5M vs. $171.2M expected) as collapsing lithium prices—down 90% from 2022 peaks—continued to batter the sector. Yet CEO Ricardo Ramos forecast a 2026 price rebound, betting on cost cuts and a pending partnership with state miner Codelco in the lithium-rich Atacama salt flat. Key Numbers 📉 Profit Drop: […]

Ukraine is racing to revamp its underdeveloped mining industry, aiming to leverage a U.S.-backed critical minerals deal to attract billions in investment and offset $1.7 trillion in wartime losses from Russian-occupied deposits of lithium, manganese, and other strategic resources. Why It Matters 💎 Mineral Wealth: Reforms Underway 📊 Data Modernization: Challenges Ahead ⚔️ War Constraints: What’s Next?

The U.S. government will wield a “golden share” in Nippon Steel’s acquisition of US Steel, giving it veto authority over critical decisions—including production levels and board appointments—as part of a national security agreement to safeguard American interests, Republican Senator David McCormick revealed Tuesday. Key Deal Terms 🏛️ Golden Share Powers: Political Backdrop 🗳️ Trump’s Endorsement: Market & Industry Impact 📈 Stock Surge: US Steel […]

Russia’s industrial giants, including aluminum producer Rusal and oil firm Gazpromneft, are scaling back rail shipments of metals and refined products, according to an internal Russian Railways document seen by Reuters—the latest evidence of a deepening economic slump exacerbated by sanctions, high interest rates, and Ukrainian drone attacks. Key Data Points 📉 Rail Cargo Cuts: Why Exports Are Falling 🔒 Sanctions Bite: Sector-Specific Pain 🏭 Steel Crisis: […]

In a dramatic reversal, President Donald Trump announced his support for Nippon Steel’s $14.9 billion takeover of US Steel, hailing it as a job-creating “partnership”—a move that sent US Steel shares rocketing 21% as investors bet the deal will finally close after 18 months of political and legal battles. Key Developments ✅ Trump’s Endorsement: 📈 Market Reaction: ⚖️ Political Whiplash: Why the Sudden Shift? 💡 Investment […]

A Malian court has postponed until June 2 a pivotal hearing to decide whether Barrick Gold’s Loulo-Gounkoto mine—one of Africa’s largest gold operations—will be placed under state control, prolonging a bitter $10 billion tax dispute that has frozen production since January and seen Barrick employees arrested. Why the Hearing Matters ⚖️ Government’s Demand: Mali seeks to appoint a provisional administrator to restart […]

Nippon Steel’s $14B US Steel Takeover Faces Divided Security Panel, But Path to Approval Emerges The fate of Nippon Steel’s $14.9 billion takeover of U.S. Steel hangs in the balance after a divided U.S. national security panel submitted its recommendation to President Donald Trump—with a majority suggesting security risks can be resolved, according to a White House official. The move […]

The global shift to lithium iron phosphate (LFP) batteries is accelerating faster than predicted, driven by plunging costs and surging demand for grid-scale energy storage—a trend that’s hammering nickel and cobalt markets while reinforcing China’s stranglehold on battery production. Why LFP Batteries Are Winning 🔋 Cost Crash: Prices for LFP batteries halved in 18 months, making projects like Fidra Energy’s £600M UK storage […]

The copper market is teetering on the brink of a historic supply crunch, trading giant Mercuria warned Wednesday, predicting a 700,000-ton concentrate deficit this year and a 300,000-ton refined metal shortfall that could propel prices to record highs—potentially eclipsing March’s peak of $11,633/ton. Why the Alarm? 🔴 Supply Squeeze: Mine disruptions (e.g., Cobre Panama closure) and stagnant production collide with resilient Chinese demand.🚢 Trade Distortions: 500K tons of copper flooded […]

CMOC Group, the global leader in cobalt mining, has publicly challenged the Democratic Republic of Congo’s (DRC) export ban on the battery metal, arguing that the restrictions—imposed in February to combat nine-year price lows—risk backfiring by pushing automakers toward cobalt-free batteries. The Standoff Why It Matters Market Realities 🔋 CMOC’s Output: Plans to produce 100K–120K tons in 2024 (vs. 114K in 2023) […]