Australia's Dyno Nobel to sell Phosphate Hill plant

Spanish Market: Fertilizers, Metals
09/03/26

Australian explosives company Dyno Nobel will sell its 769,000 t/yr Phosphate Hill fertilizer plant to Australian energy and resources company Mayfair's wholly owned subsidiary Ryowa II GPS for up to A$100mn ($70mn), the company said today.

The finalisation of the sale on 1 April depends on agreements between Dyno Nobel, Mayfair, the Queensland government, and the Australian Competition and Consumer Commission, Dyno Nobel said. Dyno Nobel will close Phosphate Hill by 30 September 2026 if the sale is unsuccessful, the company said.

The agreement includes around A$80mn of inventory from Phosphate Hill. Dyno Nobel will provide A$125.9mn to support the future rehabilitation and remediation of the facility.

The sale also ensures employment for current employees, allowing the facility to continue to provide a domestic fertilizer supply, Dyno Nobel said.

Extended closures of the Mount Isa railway and disruptions to metallurgical gas supply to the Mount Isa plant affected Phosphate Hill's operations over July 2025-February 2026.

The facility depends on sulphuric acid supply from Glencore's Mount Isa copper smelter and refinery.

Phosphate Hill generated A$233.2mn of earnings ending before interest and taxes in the October 2024-September 2025 financial year, the company said on in November 2025. It has generated A$33mn in its October 2025-September 2026 financial year to date, it said.

Glencore received a A$600mn aid package from the Australian government to support the Mount Isa copper smelter and Townsville refinery, allowing the company to continue operations and invest in upgrades, Glencore said in October 2025.

Glencore and Phosphate Hill operations are interlinked, Australia's minister for industry Tim Ayres said in an interview on 18 February. They are interoperable, and it is very important that Phosphate Hill's owners operate in the regional interest and invest in the site, Ayres added.

Mayfair did not respond to comment by time of publishing.

By Susannah Cornford and Avinash Govind

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06/03/26

Brazilian steel slab exports double in February

Sao Paulo, 6 March (Argus) — Brazilian steel slab exports more than doubled in February, led by gains in shipments to the US and EU, reflecting Brazil's advantage under the EU bloc's low-emissions policy. Total slab exports rose to 835,327 metric tonnes (t) last month, up from 384,170t a year earlier, customs data showed. Shipments increased to nearly all current destination markets in the Americas and Europe. Exports to EU member states surged to 210,000t, up from 50t a year earlier. Demand for Brazilian slab in Europe rose, underpinned by the country's relatively low default emissions values under the EU's Carbon Border Adjustment Mechanism (CBAM). Production issues at European mills also supported the increase, as they turned to South American subsidiaries to cover supply gaps. Italy was the only EU country to import Brazilian slab in February 2025, but this year trade resumed with four other member states. France ranked as the primary EU destination with 73,171t, while Brazilian mills shipped 60,647t to Spain, according to customs data. The US remained the largest buyer of Brazilian slab, as shipments to the country rose by 54pc to 536,940t compared with 348,595t the year prior. Demand for imported slab held firm despite 50pc tariffs on steel imports, as elevated downstream steel prices continued to offset higher import costs. Tight domestic supply, with several US mills facing production constraints, has supported prices and sustained import demand, sources said. Part of the surge in US imports in February may reflect shipments that were delayed in January, when exports to the US had virtually dried up. Shipments to other Latin American countries also increased as the region extended safeguard measures against Asian producers. Brazil exported 19,981t to Colombia, up from zero a year before. A Brazilian steelmaker increased exports to its own rolling mill in Mexico to 46,571t from nil a year earlier. By Isabel Filgueiras and Aaron May Brazilian slab exports t Country Feb 2026 Feb 2025 Difference ±% US 536,940 348,595 188,345 54.0 France 73,171 0 73,171 100.0 Spain 60,647 0 60,647 100.0 Mexico 46,571 0 46,571 100.0 Poland 40,514 0 40,514 100.0 Germany 28,832 0 28,832 100.0 Peru 20,325 8,954 11,371 127.0 Total 835,327 384,170 451,157 117.4 Brazil's ministry of development, industry and foreign trade data compiled by Global Trade Tracker Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Mexican steel trade down on tariffs in Jan

06/03/26

Mexican steel trade down on tariffs in Jan

Houston, 6 March (Argus) — Mexican steel imports and exports fell sharply on the year in January in response to both the US' and Mexico's own steel import tariffs, the latest data from steel chamber Canacero showed. January Mexican steel imports fell by 21pc to 793,000 metric tonnes (t) in January year on year after Mexico imposed import tariffs on more than 1,400 goods from non-trade treaty countries on 1 January. Tariffs on more than almost 300 steel and scrap grades rose to 35pc from a previous range of 0-35pc, depending on the specific grade. Mexico also imposed as low as 20pc and up to 50pc import tariffs on a handful of specific steel and scrap grades. Steel exports fell by 47pc to 166,000t in January compared with January 2025, pressured mainly by the US' announcement of 25pc steel import tariffs on 20 January, which were imposed on 12 March then doubled to 50pc on 30 May. The US remained Mexico's largest buyer of steel but its share of total Mexican steel exports fell to 43pc in January from 79pc in January 2025. Mexican steel production extended a two-year long slide, falling by 16pc to 1.343mn t in January compared to January 2025. Production has been continually hampered by tepid demand since early 2024. Steel consumption also extended losses, falling by 14pc to 1.97mn t in January from the prior-year month. Demand has been pressured since early 2024 on political, then economic, uncertainty and trade tensions with the US. By Marialuisa Rincon Mexican finished steel YTD 000s of metric tonnes, except ±% Jan-26 Jan-25 Difference ±% Production Hot-rolled coil (HRC) 325 328 -3 -0.9% Rebar 283 357 -74 -20.7% Cold-rolled coil (CRC) 229 288 -59 -20.5% Total* 1343 1598 -255 -16% Consumption HRC 397 439 -42 -9.6% Hot-dipped galvanized (HDG) 341 383 -42 -11% CRC 323 380 -57 -15% Total 1970 2290 -320 -14% Imports by country US 298 346 -48 -13.9% Japan 128 168 -40 -23.8% South Korea 99 133 -34 -25.6% Imports by product Alloyed 168 181 -13 -7.2% HDG 116 150 -34 -22.7% CRC 96 119 -23 -19.3% Total 793 1004 -211 -21% Exports by country US 71 248 -177 -71.4% Colombia 18 5 13 260% Canada 17 14 3 21.4% Exports by product Seamless tube 66 63 3 4.8% Rebar 16 21 -5 -23.8% Structural profiles 14 21 -7 -33.3% Total 166 312 -146 -46.8% Source: Canacero Totals include other products than those listed in this spreadsheet. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

US sheds 92,000 jobs in Feb, jobless rate ticks up

06/03/26

US sheds 92,000 jobs in Feb, jobless rate ticks up

Houston, 6 March (Argus) — The US unexpectedly lost 92,000 jobs in February while revisions pulled December data into negative territory, evidence the labor market continues to weaken amid policy uncertainty and geopolitical strife. Analaysts were expecting about 60,000 job gains, according to a survey from Trading Economics, so Friday's Bureau of Labor Statistics (BLS) report of a drop comes is seen as a shock. January's data was revised downward by 4,000 jobs to 126,000 while December's was revised by 65,000, pushing that month to a 17,000 job loss. The US economy has been buffeted by President Donald Trump's heavy-handed use of tariffs to extract trade and diplomatic concessions, partial government shutdowns and sticky inflation that keeps lower-earning households from spending. Companies have generally been reluctant to hire amid the ongoing uncertainty and the latest war in the Middle East is only fueling energy inflation and policy uncertainty. The unemployment rate edged up to 4.4pc last month from 4.3pc, but remains at historically low levels. Average hourly earnings rose by 3.8pc in February from a year earlier, compared with 3.7pc in the prior month. Heath care jobs, a leader in recent months, fell by 28,000 in February, affected by strikes at some hospitals systems, following gains of 77,000 in January. Physician offices lost 37,000 jobs, also mainly on the strikes. Federal government jobs fell by 10,000 last month and are down by 330,000 since reaching a peak in October 2024. Manufacturing lost 12,000 jobs last month, with auto manufacturing down by 1,600. Jobs in manufacturing, which Trump has pledged to revive with his use of tariffs, are down by 98,000 since February 2025 and are at their lowest levels in four years. Construction lost 11,000 last month. Mining lost 2,000. Transportation and warehousing lost 11,000 jobs, even as air transport was up by 5,000. Financial activities gained 10,000 jobs after losing 30,000 the prior month. Leisure and hospitality lost 27,000 after losses of 12,000 the prior month. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Thailand's fertilizer supply ample as war continues

06/03/26

Thailand's fertilizer supply ample as war continues

Singapore, 6 March (Argus) — Fertilizer supply in Thailand remains ample for the next two months, and scheduled arrivals will help to build stocks which will ensure sufficient supply until August, the Thai government said today. Fertilizer supply in Thailand totalled 1.52mn t as of January, with urea accounting for 320,000t or 6.5mn bags, which is sufficient to meet demand in the country for more than two months. Thailand is expected to receive around 100,000t of urea from Saudi Arabia, equivalent to around 2mn bags, bringing the total amount of urea available to farmers to 8.5mn bags, which is sufficient until August, said Airin Panrit, deputy spokesperson for the prime minister's office on 6 March. The government has also instructed relevant agencies to monitor the evolving situation in the Middle East and its impact on domestic prices, and warned retailers not to take advantage of the situation by raising prices excessively, or they would risk facing legal action. This statement came after concerns of a fertilizer shortage arose among farmers following the start of the US-Israel-Iran war, which has effectively choked off supply from producers in the Mideast Gulf for now. The Middle East is the largest urea exporting region, shipping around 20mn t/yr or 35pc of global seaborne trade. Thailand imports most of its urea from the Middle East, with Saudi Arabia being its biggest supplier, accounting for around 1.1mn t of deliveries in 2025. Thailand also imports urea from other sources including Malaysia and Brunei, which could supplement Thailand's urea stocks if needed. "Farmers should not panic," said Panrit, adding "There is no need to rush or buy or stockpile large volumes of fertilizers." Domestic urea prices rise further, importers' reactions mixed Meanwhile, some suppliers have continued to raise domestic granular urea prices in line with firming international offers. The latest bagged domestic granular urea prices have risen to around 17,000 baht/t ($535/t) ex-warehouse as of 6 March, up by 800 baht/t from the day before. Importers agree that further price hikes are expected in the weeks to come. One importer told Argus that current urea inventories are sufficient to cover the upcoming seasonal demand in the near term and importers do not need to rush to import more spot urea on the back of the conflict. Others are seeing several importers seeking spot offers from regional suppliers in Malaysia and Brunei, as they expect supply from the Middle East to be disrupted in the short term. But importers will have to grapple with tight short-term supply from regional producers and significantly higher prices. Malaysian producer Petronas sold 30,000t of spot granular urea on 5 March at $650/t fob Sipitang and has yet to offer any new cargoes, while Bruneian producer BFI is mostly sold out of March and April availability and only offering first-half May cargoes. Pupuk Indonesia is also out of the export market with no sign of a sale tender. Thailand is currently in the harvesting season for off-season rice and fruits. The main planting season for paddy typically starts in May, coinciding with the start of the southwest monsoon season. Domestic demand for fertilizers is likely to emerge only from April onwards, which leaves some time for farmers to evaluate the situation before buying fertilizers. By Huijun Yao and Dinise Chng Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

GM's Silao plant in Mexico may strike on 25 March

05/03/26

GM's Silao plant in Mexico may strike on 25 March

Houston, 5 March (Argus) — Workers at automaker General Motor (GM)'s Silao plant in Mexico may strike on 25 March following the suspension this week of contract talks between the firm and national independent automotive industry workers' union Sinttia. GM suspended talks for a week after three weeks of negotiations, Sinttia said on 3 March, adding that the workers will strike on 25 March. Silao produces 300,000 vehicles/yr, according to Sinttia. The union originally asked GM for a 20pc pay increase for workers. GM's counteroffer was "far below its real capacity," Sinttia said. It added that the gap between Silao workers and their US counterparts "remains enormous." GM is "negotiating in good faith, with absolute respect for the union process and its representatives," it told Argus . "Our goal is to maintain a cordial and constructive dialogue, always seeking common ground that allows this process to move forward." The firm is committed to reaching a "fair and sustainable agreement that benefits our employees and is favorable for all parties involved," it added. Sinttia said that 90pc of Silao's production goes to the US, leading GM to have its highest market share in the US since 2015. By Marialuisa Rincon Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Australia's Dyno Nobel to sell Phosphate Hill plant

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