Metal

Nippon Steel and U.S. Steel sent a letter to President Joe Biden regarding their proposed $15 billion merger, amid reports that the Biden administration is preparing to block the deal. The letter, signed by executives including Nippon Steel’s CEO Eiji Hashimoto and U.S. Steel’s CEO David Burritt, did not disclose specific details of its contents. […]

Peru, the world’s third-largest copper producer, is projected to fall short of its government target of 3 million metric tons of copper production this year, with estimates now at about 2.8 million tons, according to Deputy Mining Minister Henry Luna. Luna noted that while some mining companies might increase their production estimates due to a […]

Vedanta, the Indian metals-to-oil conglomerate, aims to increase its production of nickel and nickel sulphate in response to growing demand for electric vehicle (EV) battery materials in northeast Asia. The company, under its business unit Vedanta Nico, announced plans for this expansion but did not disclose specific production figures or investment amounts. While India’s electric […]

China’s recent plan to expand its carbon market to include steel, cement, and aluminum aims to cover approximately 60% of the country’s total greenhouse gas emissions. However, experts warn that the relatively lenient standards set for companies may diminish the scheme’s effectiveness in its initial phase. The expansion of China’s emissions trading scheme (ETS) will […]

Chinese battery manufacturer CATL (300750.SZ) announced on Wednesday that it intends to adjust its lithium carbonate production in Yichun in response to recent market conditions. This announcement follows an analyst report indicating that CATL had suspended operations at its substantial lepidolite mine, which has contributed to a rise in lithium futures prices and affected the […]

The World Platinum Investment Council (WPIC) has announced that the global platinum market is expected to experience a significant deficit of 1.0 million troy ounces in 2024, nearly double its previous estimate of 476,000 ounces. This increase is attributed to strong investment demand, particularly from exchange-traded funds (ETFs) and large bar purchases in China. Investment […]

China’s imports of unwrought copper fell to a 16-month low in August, driven by weaker demand across various sectors. According to customs data, imports totaled 415,000 metric tons, a decrease of 12.3% compared to 473,330 tons in August of the previous year, and down 5.3% from July. This decline reflects ongoing challenges in China’s manufacturing […]

The growing popularity of hybrid cars is unexpectedly boosting the demand for platinum group metals (PGMs), particularly platinum and palladium, as the uptake of electric vehicles (EVs) begins to slow. This shift in consumer preference is providing a lifeline for PGMs, which have faced a long-term decline due to reduced need in pure EVs, where […]

China is seeking public feedback on a proposal to incorporate cement, steel, and aluminium production into its carbon emissions trading scheme (ETS) by the end of 2024. This initiative, announced by the Ministry of Ecology and Environment, aims to cover approximately 60% of the country’s total greenhouse gas emissions, surpassing the emissions of the United […]

Shigeru Ishiba, a leading candidate for Japan’s next prime minister, expressed significant concern over the potential U.S. government move to block Nippon Steel’s $15 billion acquisition of U.S. Steel on national security grounds. He described such actions as “very unsettling” and warned that they could undermine trust between the U.S. and Japan. Reports suggest that […]