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You can unsubscribe from these updates at any time. We manage your personal data in accordance with our privacy policy.Integrated steelmaker Cleveland-Cliffs lowered its published hot-rolled coil (HRC) spot price by $65/short ton (st) today.
Cliffs' HRC price now stands at $910/st — falling from the $975/st price in its April price letter, which itself was a $40/st increase from March.
Cliffs also opened up its June spot order book.
Houston, 3 December (Argus) — Economic activity in the US services sector, the biggest part of the economy, expanded further in November, as business activity and new orders rose, the Institute for Supply Management (ISM) reported today. The purchasing managers index (PMI) for services rose to 52.6 in November, up from 52.4 in October, marking the fifth consecutive month above 50, which is the divide between expansion and contraction. Still, the 12-month average of 51.7 was the lowest since August 2024. The business activity/production index rose in November by 0.2 points to 54.5. The new orders index slipped to 52.9, down by 3.3 percentage points from October but above its 12-month average. The backlog of orders approached expansion with a PMI at 49.1, up from 40.8 in October. The prices index fell to 65.4 in November, down from 70 the prior month, signaling slowing gains. The continued expansion in the business activity and new orders indexes and the rising backlog of orders "are positive signs of an emerging recovery for the services sector", ISM said. "On the downside, tariffs and the government shutdown continue to be noted by survey respondents as impacting both demand and costs." The employment PMI rose to 48.9 from 48.2 in October, signaling a slowing contraction. The supplier deliveries index rose by 3.3 points to 54.1, indicating slower deliveries by suppliers, "likely due to air traffic disruptions from the government shutdown and customs impacts related to changing tariffs," ISM said. A higher supplier delivery reading indicates slower deliveries, typically a sign of rising demand and an improving economy. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Singapore, 3 December (Argus) — Australian lithium loading tonnage edged up in November against October, according to data compiled by Argus , likely hitting the second-highest monthly volume this year on the back of stronger spodumene prices. Total bulk lithium shipments out of Australian ports were estimated around 402,300t in November, higher than a relatively weak October that followed a record level in September , according to data from vessel tracking firm Kpler compiled by Argus . The vast majority of the shipments are likely spodumene. China is historically Australia's primary spodumene consumer. Bunbury port and Port Hedland were estimated to have loaded near 155,700t and 122,000t of lithium, up by 21pc and 2.5pc on the month, respectively. Lithium producers such as PLS, Mineral Resources (MinRes), Covalent Lithium as well as the country's Greenbushes mine — run by Australian mining group IGO alongside major Chinese firm Tianqi Lithium and US-based producer Albemarle — transport their spodumene to the two ports for export. Australian lithium producer Liontown Resources' Kathleen Valley project sits near the Geraldton port, which was estimated to have shipped out more than 44,500t of lithium in November. Esperance port loaded about 61,400t of lithium, up by 87pc on the month. MinRes' Mount Marion operation, which is 50pc-owned by major Chinese lithium producer Ganfeng, sends its spodumene to Esperance for export. The Port of Fremantle shipped out more than 18,600t of lithium, according to Kpler data. As of 3 December, Australian ports are expected to load at least 271,400t of lithium in the month, the latest Kpler data show. This suggests a potentially stronger December loading volume, given the comparatively lower figure reported in early November. Argus -assessed prices for 6pc grade lithium concentrate (spodumene) rose from $920–980/t cif China on 4 November to $1,170–1,235/t on 2 December. Chinese salt plants were active in securing sufficient feedstock for the first quarter of 2026 and were in no hurry to finalise spodumene prices despite price uptrend. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
London, 2 December (Argus) — Switzerland-based mining company Glencore plans to restart operations at its 720,000 t/yr South African Lion ferro-chrome smelter in February, the company told Argus on Tuesday. The Lion smelter will be Glencore and its local partner Merafe's sole operational ferro-chrome smelter in South Africa, after Merafe confirmed its plans on Tuesday to put the Boshoek and Wonderkop ferro-chrome smelters on care and maintenance from 1 January. The venture suspended operations at all three ferro-chrome smelters earlier this year, citing weak demand from the European steel industry, competition from lower-priced Chinese ferro-chrome and high electricity costs in South Africa. South African president Cyril Ramaphosa has set out an electricity tariff realignment programme to ease pressure on industrial power users, but these reforms are yet to be finalised despite being the most pressing requirement for the viability of the venture's ferro-chrome operations, Merafe said. South African utility Eskom proposed an electricity tariff arrangement to Merafe last week after the closures were announced, but Merafe said this did not provide a sustainable solution for the long-term viability of the Boshoek and Wonderkop smelters. Merafe issued retrenchment notices to between 1,200 and 1,400 workers, which will become binding on 9 December if a solution is not reached with the South African government. Up to 300,000 direct and indirect jobs could be at risk at South African smelters and other related heavy industries from December to early 2026 after an inconclusive mediation process with the government, Labour union Solidarity chief executive Dirk Hermann warned last week . The country's other main ferro-chrome producer, Samancor Chrome, has told the union that up to 2,500 jobs are at risk from downsizing and closure procedures at its operations next year. By Gian Remnant Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Tokyo, 1 December (Argus) — Japan's largest steel producer by capacity Nippon Steel stopped operating the Muroran blast furnace in the northern prefecture of Hokkaido today because of a fire. Fire hit Muroran steel mill's hot blast stove, a part of the blast furnace, early on 1 December, the company said. The fire was extinguished, but Nippon Steel is unsure when it can resume operation of the blast furnace. Nippon Steel operates one blast furnace at the Muroran steel mill. The steel mill has a crude steel output capacity of 1.24mn t/yr. The mill mainly manufactures steel products for carmakers. The company had only resumed normal operation of the Muroran blast furnace in late November, after repairing a steel slag leak in September. Japan's crude steel demand to be 20.23mn t in October-December, 2.4pc lower than in the same period a year ago, according to the country's trade and industry ministry. Demand from the construction sector is expected to fall because of rising material costs and labour shortages, while a recovery in demand from carmakers is also unlikely, Meti said. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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