ISTA blasts 'ludicrous' Tata Steel UK assertion to TRA

Spanish Market: Metals
13/05/25

Tata Steel UK's claim to the Trade Remedies Authority (TRA) that 2m-wide hot-rolled coil (HRC) could be bought for slitting is "ludicrous", according to the International Steel Trade Association (ISTA).

In a submission to the TRA as part of its safeguard review, Tata said that if 2m-wide material, which it does not produce, is removed from the safeguard, it would be bought and slit, meaning it is no different from the material produced by Tata.

But ISTA said 2m-wide HRC is a "significant part" of the yellow goods market and is used by companies such as JCB, Caterpillar and Liebherr for earth-moving, construction and agricultural equipment. It is also used in pipe and tube production and does not constitute a small proportion of the overall market, as suggested by Tata, ISTA said. The material must be imported as it is not manufactured in the UK and carries a premium over speed-stock widths produced by Tata.

"For Tata Steel, who import volumes of this width themselves, to suggest that wider coil is ‘often imported only to be slit to narrower cuts' is ludicrous," ISTA said, arguing that there are "almost no" slitting lines in the UK that are capable of slitting 2m-wide material. The lines that do exist typically slit hot-dip galvanised (HDG) rather than HRC, Argus understands.

Importers have also questioned the economic rationale of Tata's assertion that if higher-yield HDG is removed from the safeguard, importers would buy it and use it to compete with more commoditised grades produced by Tata. Higher-yield material carries a premium, and it would make no economic sense to pay it and then compete in the commodity market, trading firms told Argus.

The TRA, which is expected to announce its provisional findings this week, is widely anticipated to propose caps on the quota for other countries' HDG.

Importers told Argus that they were surprised by the aggressive tone of Tata's rebuttal to claims fielded by importers about material that it does not produce being excluded from the safeguard.

By Colin Richardson

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14/06/25

Trump approves Nippon Steel’s acquisition of USS

Tokyo, 14 June (Argus) — US president Donald Trump approved Japanese steelmaker Nippon Steel's $15bn acquisition plan of US Steel in his executive order that reversed his predecessor's decision to block the deal, the Whitehouse announced late on 13 June. The threat to national security for the US arising as a result of the deal can be adequately mitigated by entering into a National Security Agreement (NSA) with Nippon and US Steel, Trump said in a statement. Former US president Joe Biden on 3 January rejected the proposed merger plan, citing national security concerns with a Japanese firm owning a major US steel maker. The firms signed the NSA with the US government yesterday, following Trump's executive order, Nippon Steel told Argus , leaving no major obstacles to proceed with the transaction. "We thank President Trump and his Administration for their bold leadership and strong support for our historic partnership. This partnership will bring a massive investment," the firms said. The partnership means an acquisition of US Steel, the representative of Nippon Steel who spoke to Argus reiterated, rejecting speculation that the approved investment plan does not entail a merger bid. Nippon Steel will make a $11bn investment in US Steel by 2028 as part of the requirements by the NSA, according to the Japanese firm. It will start investing in the US this year after necessary regulatory approvals were granted, the company told Argus . The Japanese steel producer will also issue a "golden share" to the US government as required under the NSA, according to the White House. A "golden share" typically grants its holder the right to veto decisions by the firm's board members or its majority shareholders. But Nippon Steel told Argus that the company freedomto run US Steel is guaranteed, rejecting speculation that the US government would retain full control of the business. A "golden share" can take a variety of forms, the representative told Argus , although the Japanese firm did not disclose if the White House is granted veto power. The Trump's executive order is likely to settle the 18-month approval process that faced a number of challenges including legal action by the firms against the Biden administration and opposition to the deal by the United Steelworkers (USW) union. Nippon Steel persists in the US market because it is the most prominent steel market among the advanced economies with robust demand for high quality steel products, said Eiji Hashimoto, chief executive of Nippon Steel in January . The acquisition of US Steel is the only promising solution to strengthen the steel industries in both countries, Hashimoto added. The Japanese steelmaker and US Steel agreed on the acquisition in part because the collaboration would enhance US Steel's ability to serve automobile, construction and other industries including emerging energy transition sectors, according to the firms. Nippon Steel is among the top producers of electrical steel essential to electric vehicles production, according to the Japanese producer. Nippon Steel is targeting India, the US and southeast Asia as strategic regions to achieve 100mn t/yr of crude steel production globally as part of its mid- to long-term strategy. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Brazil BEV sales hit record high in May

12/06/25

Brazil BEV sales hit record high in May

Sao Paulo, 12 June (Argus) — Brazilian battery electric vehicle (BEV) sales reached an all-time monthly high of 6,969 units in May because of improving charging infrastructure and greater consumer familiarity with the vehicles, according to the Brazilian EV association ABVE. After four months of below-average BEV sales in Brazil — driven by record-high consumer demand for hybrid electric vehicles (HEVs) — sales of fully electric models rebounded in May, rising by 35pc from a year earlier. Sequentially, BEV sales surged 48.2pc from April's 4,702 units, ABVE data showed. In May, fully electric vehicle sales grew in all but two states compared with April. The Northeastern region, characterized by less-developed charging infrastructure outside major urban centers, saw the highest monthly growth. Sales rose by 59pc to 1,665 units in May from the prior month, according to data from ABVE. Chinese automaker BYD further increased its dominance in the Brazilian EV market, accounting for 5,596 units sold, more than 80pc of all BEV sales in May. Volvo and fellow Chinese producer Great Wall Motors (GWM) closed out the top three at 514 and 181 units, respectively. BYD does not see this spike as a seasonal or isolated phenomenon, but as a new reality in the Brazilian auto market, which is getting used to EVs, according to the company's senior VP in Brazil, Alexandre Baldy. "We are increasingly growing our dealership network in Brazil at 180 stores," Baldy told Argus on Thursday. "We'll reach 272 stores by the end of the year, solidifying our presence in all regions of the country." Between April and May, BYD opened 15 new dealerships, focusing on more remote regions such as the Midwest and Northeast. ABVE cited, in a release, the scaling of new brands and models, along with improving charging infrastructure, as reasons for the high demand for rechargeable vehicles, such as BEVs and plug-in hybrids (PHEVs). Rechargeable vehicles make up 87pc of all EVs in Brazil, according to ABVE. May was the first full month for two Chinese carmakers that recently debuted in Brazil: Omoda and Jaecoo, both subsidiaries of the Chery Auto Group, which has been in the country since 2009. The brands share dealerships, with Omoda marketing BEVs and Jaecoo aiming for the PHEV market. They sold a combined 398 units, according to Fenabrave, a private body that represents car dealerships in Brazil. Hybrid vehicle sales keep growing HEV sales continued to grow at a strong pace in May, rising by 81pc to 15,160 units over the year. Sequentially, HEV demand nudged up 1.5pc from April's 14,927 units. Brazilian consumers tend to prefer hybrids — plug-in or not — because of the lack of charging infrastructure outside of major urban centers, although PHEVs are the preferred choice because of their flexibility to alternate between a fully electric driving experience and a regular, gas-powered one. May's PHEV sales rose by 95.2pc over the year but fell 4.2pc sequentially from April because of the shift in demand towards BEVs. Total EV sales in Brazil — encompassing BEVs and HEVs — hit 22,101 units in May, a 63.3pc increase over the year and up by 12.7pc from April. EVs make up 13.2pc of Brazil's total car market. HEVs: Fiat tops BYD as best-selling brand In May, Fiat overtook BYD as the best-selling HEV brand in Brazil, marking the first time since July 2024 that the Chinese automaker has lost the top spot in the market. Fiat, which debuted in the HEV market in November 2024, quickly took advantage of its status as a traditional, well-known brand among Brazilian consumers to become a leader in the segment. It sold 4,299 hybrid units in May, besting BYD's 3,702, according to data from Fenabrave. HEV sales for the Italian automaker rose by 9pc in May from the previous month, pushing its market share to 28.3pc. BYD, meanwhile, saw its HEV sales drop by over 1,000 units in May from the prior month, as demand shifted towards its fully electric models, which posted record sales. Despite the monthly decline, BYD's HEV sales were up 137pc on the year. The company held a 24.4pc market share in May — down 7.3 percentage points from 31.7pc in April. Fiat — a Stellantis subsidiary — markets two models of mild-hybrids (MHEVs), a regular internal combustion vehicle with a small 12V or 48V non-plug-in battery that assists the gas-powered engine and improves fuel efficiency. Despite the battery not powering the wheels, MHEVs are eligible for environmental tax exemptions and other governmental benefits just like more traditional EVs. By Pedro Consoli Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

UK ETS emissions fell by 11pc on the year in 2024

12/06/25

UK ETS emissions fell by 11pc on the year in 2024

Seville, 12 June (Argus) — Emissions in sectors covered by the UK emissions trading scheme (ETS) declined by 11.5pc year on year in 2024, data published by the UK ETS authority show, slowing their decline slightly from the previous year. Stationary installations covered by the UK ETS emitted 76.7mn t of CO2 equivalent (CO2e), down by 12.9pc from 2023, the data show. But this was offset somewhat by a 2pc increase in aviation emissions to 8.99mn t CO2e. Overall UK ETS emissions now have declined for two consecutive years, having fallen by 12.5pc in 2023. Emissions under the scheme rose by 2.5pc in 2022, as a strong rebound in aviation activity following earlier Covid-19 restrictions outweighed declining stationary emissions. Stationary emissions have decreased in every year since the scheme launched in 2021. The majority of the decline in stationary emissions under the UK ETS last year took place in the power sector, where emissions dropped by 18.2pc to 30.6mn t CO2e. The country's last coal-fired plant, Ratcliffe-on-Soar, closed in September last year. And the share of gas-fired output in the generation mix dipped as wind, solar and biomass production and electricity imports edged higher. Industrial emissions also declined, by 8.9pc to 46.1mn t CO2e. The iron and steel sector posted the largest relative drop of 30pc to 6.54mn t CO2e. Emissions from crude extraction fell by 6.4pc to 6.0mn t CO2e, while emissions from gas extraction, manufacture and distribution activities decreased by 8.9pc to 5.3mn t CO2e. The chemicals sector emitted 2.28mn t CO2e, down by 5.2pc on the year. A total of 43 installations were marked as having surrendered fewer carbon allowances than their cumulative emissions since the launch of the UK ETS, as of 1 May. A further two installations failed to report their emissions by the deadline. "Appropriate enforcement action" will be taken against operators that fail to surrender the required allowances, the UK ETS authority said. Overall greenhouse gas emissions across the UK economy dropped by a smaller 4pc last year, data published by the government in March show. This decline also was driven principally by lower gas and coal use in the power and industry sectors, with smaller declines in transport and agriculture, not covered by the UK ETS, and an increase in buildings emissions, also out of the scheme's scope. Emissions under the EU ETS in 2024 dipped by a projected 4.5pc from a year earlier, based on preliminary data published by the European Commission in April. The UK and EU last month announced that they will "work towards" linking the two systems together. By Victoria Hatherick UK ETS emissions mn t CO2e Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

India’s HCL to treble copper ore output by 2031

12/06/25

India’s HCL to treble copper ore output by 2031

Mumbai, 12 June (Argus) — State-owned Hindustan Copper Ltd (HCL) announced today that it is ramping up its copper ore production capacity to 12.2mn t/yr by the fiscal year ending March 2031. The company plans to raise capacity over the next five years by expanding existing mines and reopening closed ones. HCL lifted ore production by 13pc on the year to 3.78mn t in the fiscal year ending March 2024 from 3.35mn t in the previous year. It expects output to reach 4.35mn t in the 2025-26 fiscal year, and will add about 2mn t/yr until it hits the 12.2mn t target. HCL has already resumed production at its Rakha mine in the Jharkhand region. And it plans to expand production at its Kendadih mine, also located in Jharkhand, by 250,000t before December. The company will invest about 20bn rupees ($234mn) over the next 5-6 years to meet its expansion target. The expansion is part of HCL's strategy to boost domestic copper output and reduce reliance on imports. Investment in infrastructure, renewable energy, electric vehicles production, rural electrification and urban housing projects is expected to drive copper demand in India in the coming years, HCL said. HCL — under the administrative control of India's ministry of mines — is the country's only fully integrated copper producer, involved in mining, ore processing, smelting and refining. By Deepika Singh Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Philippines axes planned ban on nickel ore exports

12/06/25

Philippines axes planned ban on nickel ore exports

Beijing, 12 June (Argus) — The Philippines has removed a provision in its mineral bill that had banned the export of unprocessed nickel ore. The country's Senate on 3 February had passed a bill to ban unprocessed nickel ore exports by 2030 to promote domestic processing -- mirroring a similar policy in Indonesia. But this was not welcomed by the local industry. The decision to remove the ban was supported by the Philippine Nickel Industry Association (PNIA). "This is a prudent and forward-looking step that protects jobs, upholds investor confidence, and reflects a more realistic understanding of the challenges surrounding domestic mineral processing," PNIA said in a statement. The Philippines exported 44.97mn wet metric tonnes of nickel ore in 2024, up by 10.1pc year on year. Of this, 35.12mn wmt was exported to China, down by 12pc on the year. Indonesia received 9.55mn wmt, up from 215,000wmt it received in 2023. Rising demand and a lower approved mining quota, or RKAB, in Indonesia boosted the country's ore imports from the Philippines. While in China, weak demand resulted in the decline of imports. The Philippines' nickel intermediates output fell by 7.8pc on the year to 414,000t of nickel metal equivalent in 2024. Most of this production came from the Coral Bay and Taganito high-pressure acid leach plants owned by Nickel Asia, according to data from the International Nickel Study Group. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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