Argus tungsten market update and outlook – June 2024
Tungsten prices are at highs not seen for some time. This short update will help you to understand the fundamental reasons behind these high prices and give you an insight into the near to medium term outlook for the tungsten market.
The insights provided in this 10 minute video are taken from the new edition of Argus Tungsten Analytics service, presented by Mark Seddon, Principal Consultant.
The video update explores:
• Tungsten prices are at 6-year highs, principally affected by near-term supply issues in China
• Demand for tungsten is generally muted, especially in Europe, but the defence sector is driving demand given the current geo-political issues in eastern Europe and the Middle East
• The medium-term supply picture is likely to be boosted by new projects coming on-stream in 2H 2024 and 2025
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Andromeda sends first high-purity alumina to Japan
Andromeda sends first high-purity alumina to Japan
Singapore, 30 October (Argus) — Australian mining firm Andromeda Metals has sent its first commercial high-purity alumina (HPA) sample to a potential customer in Japan, the company said in an ASX announcement on 29 October. The HPA was produced at Andromeda's continuous pilot plant using kaolin from its Great White project in South Australia. Samples produced at the plant reached a purity of up to 99.9989pc, according to the announcement. The commercial sample was sent to a potential customer in Japan's high-tech manufacturing sector for evaluation as part of Andromeda's customer engagement programme. The company did not disclose the customer or the intended end use. Andromeda plans to continue its pilot plant test programme through the October-December quarter and produce further commercial samples for prospective customers, according to the announcement. Several Australian companies are producing or developing HPA as they seek to expand commercial-scale production. Australian developer Alpha HPA has been producing HPA at its Stage One facility in Gladstone, Queensland, where output reached over 1,200 kg/week by October 2024, the company said. Alpha HPA is also constructing the second stage of its HPA First project in Gladstone, with first production scheduled for 2027. Fellow developer Cadoux has produced 4N HPA at pilot scale in Western Australia (WA) and is developing a proposed 10,000 t/yr commercial HPA project. Exploration firm Impact Minerals is also developing its 80pc-owned Lake Hope HPA project in WA, where a pilot plant is under construction and scheduled for installation and commissioning by 30 November, the company said on 26 October. Impact also owns 50pc of Alluminous, which operates a separate HPA pilot plant in Perth. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US critical minerals strategy supports Australia: Panel
US critical minerals strategy supports Australia: Panel
Sydney, 30 October (Argus) — Australian critical mineral firms can benefit from US government funding and procurement restrictions, but companies need to be proactive about kickstarting projects and understanding US funding options, delegates heard at Sydney's International Mining and Resources Conference from 27-29 October. The US is shepherding G7 countries forward to reach alignment on critical minerals and is committed to its partnership with Australia, US Department of Commerce deputy assistant Joshua Kroon said. Australia is already compliant with US procurement restrictions on the sourcing of tantalum and tungsten issued under the National Defence Authorisation Act, which make it a competitive source of supply, US Department of Defence (DOD) technical director Adam Burstein said. US president Donald Trump in July signed an executive order instructing the DOD to stop issuing most waivers for the procurement restrictions from 1 January 2027. Further restrictions under the act on the sourcing of metals including gallium and germanium will come into effect from 18 December 2027. The DOD has moved quickly this year to invest $174mn in US aluminium producer Alcoa's gallium refinery in Western Australia and $400mn in Australian developer Sunrise Energy Metals' Syerston scandium project in New South Wales, Burstein said. But Australian companies need to understand how to access to full range of US financing options, non-profit Securing America's Future Energy executive director Abigail Hunter said. These include funding from the DOD, the Department of Energy (DOE), the Office of Strategic Capital, the Defence Industrial Base Consortium, and the US Army-operated Cornerstone. The DOE will give preference to Australian companies that are also invested in the US, such as manganese developer Element 25, DOE senior advisor Andres Rodriguez said. The DOE gave Element 25 a $166mn grant in January 2025 for its Louisiana-based high purity manganese sulphate monohydrate refinery. The US government-backed Development Finance Corporation (DFC), which has historically only invested in developing countries, has also expanded its mandate to look at critical minerals supply chains in Five Eyes countries including Australia, DFC regional managing director Douglas Midland said. Mining and minerals processing is now a national goal for the US, which could not have been said 10 years ago, American Exploration and Mining Association executive director Mark Compton said. The US' focus on critical minerals will outlive the Trump administration because this new national goal enjoys bipartisan and broad public support, Compton said. The US senate may be close to passing the Bipartisan American Affordability and Jobs Act (BAAJA), which will cut red tape for mining firms and speed up development in the US, Compton added. Capital goes where capital is welcome, Kroon said, indicating that Australia may also need to do more to "clean up" its regulatory approval processes to stay competitive. By Daniel Gage-Brown Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hydro starts work on new extrusion line at Cressona
Hydro starts work on new extrusion line at Cressona
Houston, 29 October (Argus) — Norway-based aluminum producer Hydro has begun constructing a new extrusion line at its facility in Cressona, Pennsylvania, as part of its efforts to modernize its manufacturing footprint in North America. The $53.5mn line will include a 5,900 metric tonne (t) indirect extrusion press and a 45,000 lb/hr billet furnace, with other upgrades including a semi-automated handling system for aluminum profiles, Hydro told Argus on Thursday. The company expects the line to begin operations in the first quarter of 2028. The project will replace a legacy line with a water-powered hydraulic press that was constructed in the 1950s, as Hydro looks to capitalize on growing demand for indirect extrusions that provide improved grain structures and consistent mechanical properties. Indirect extrusions involve pushing a die toward a stationary billet, compared with the opposite process when making direct extrusions, which is the industry norm. Hydro primarily supplies indirect extrusions to customers in commercial transportation, automotive and electrical end markets. The new line comes two years after Hydro installed an indirect extrusion press as part of an earlier modernization push, which coincided with an expansion of Cressona's casting capacity. The company, which picked Italy-based Presezzi to build the new press, called for "more nuanced" trade policies that do not increase the cost of capital-intensive equipment, noting that extrusion presses and other specialized assets that are "produced only in Europe" carry tariff burdens that threaten the "competitiveness of domestic manufacturing". By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Howmet further raises 2026 guidance on IGT, aerospace
Howmet further raises 2026 guidance on IGT, aerospace
London, 29 October (Argus) — US engine components manufacturer Howmet Aerospace further raised its full-year earnings guidance on strong original equipment and spares demand from commercial aerospace and industrial gas turbine (IGT) manufacturers. Howmet raised its full-year revenue guidance to $10.29bn-10.31bn, a second quarterly increase from guidance of $10bn-10.1bn set in August, and a forecast of $9.575bn-9.725bn in May. Howmet also forecast 2027 revenue at approximately $11.5bn, representing a 12pc increase over the revised 2026 figure. Howmet's engine product sales increased to $1.45bn in the third quarter, up by a third from a year earlier, while sales in the fastening systems division were $630mn, up by 41pc year on year, both driven by commercial aerospace and defence markets. Third-quarter engineered structures sales were $295mn, a 4pc decrease on the year due to the divestiture of its Savannah disk forging facility. Excluding the divestiture, revenues grew by 8pc. Forged wheels revenue was $327mn in the third quarter, up by 32pc on the year because of higher volumes in the commercial transportation market and higher aluminium cost pass-throughs. Overall revenue hit $2.7bn, notably underpinned by a 45pc increase in sales to the IGT market. Spares demand from commercial aerospace remains strong due to durability issues on narrowbody engines and shop-visit requirements, while the record backlog of aircraft orders will sustain original equipment demand. Howmet is poised to further increase capacity for GE Aerospace, which will take two years to install with a "multi-year runway after that", Howmet chief executive John Plant said. Artificial intelligence and data centre power requirements are driving IGT demand, as turbine manufacturers' order books are now stretching out to 2031-32, Plant said. By Samuel Wood Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.