Canada ZEV sales up by 47pc in Feb

Spanish Market: Battery materials, Metals
17/04/26

Sales of zero-emission vehicles (ZEVs) in Canada totaled more than 12,600 in February, up by 47pc from a year earlier after the start of federal incentives, according to Statistics Canada.

ZEVs are motor vehicles that are able to run without producing tailpipe emissions, and include battery and plug-in hybrid electric vehicles.

New ZEVs accounted for 10pc of total new motor vehicle sales in February, compared with 7pc in the same month a year earlier, the data show.

Canada launched the federal Electric Vehicle Affordability Programme (EVAP) on 16 February, providing consumers with incentives to buy or lease affordable EVs with a final price of C$50,000 ($36,570) or less.

Battery and fuel-cell EVs qualify for incentives of up to C$5,000, while plug-in hybrid EVs qualify for up to C$2,500.

The EVAP programme received C$2.3bn in funding over five years. Eligible EVs must be made in Canada or in countries with free trade agreements with Canada to qualify.

By Carol Luk

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21/04/26

Rio Tinto raises global copper output, cuts lithium

Singapore, 21 April (Argus) — UK-Australian mining firm Rio Tinto raised alumina and copper output in January-March but reported a sharp drop in lithium production due to weather-related disruptions, it said today. Aluminium and alumina Rio Tinto's attributable primary aluminium output in January-March rose by 1pc on the year, but fell by 2pc on the quarter, to 835,000t. The company's alumina production increased by 6pc on the year to 2.04mn t over the same period. Bauxite production fell by 11pc to 13.28mn t, primarily owing to heavy rainfall at Weipa mine in Queensland, Australia, in January and February and cyclone-related shutdowns at Weipa and Gove mine in Northern Territory, Australia, in March. Rio Tinto's recycled aluminium production declined by 8pc on the year to 61,000t. Rio Tinto has kept its 2026 production guidance unchanged for primary aluminium at 3.25mn-3.45mn t, alumina at 7.6mn-8mn t and bauxite at 58mn-61mn t. Copper Rio Tinto's consolidated copper production rose by 9pc from a year earlier to 229,000t in January-March, driven by the continued ramp-up of copper in concentrates output from Oyu Tolgoi in Mongolia, which increased by 56pc to 102,000t over the same period. Refined copper output at Escondida in Chile rose by 21pc to 16,000t, while concentrates output declined by 14pc to 77,000t in the first quarter compared with a year earlier. Refined copper production at Kennecott in the US fell by 20pc from a year earlier to 34,000t, owing to lower anode inventories following unplanned smelter maintenance and lower concentrator throughput caused by geotechnical constraints. Drilling has also begun at the Resolution Copper project in Arizona following completion of the land exchange in March. Rio Tinto maintained its full-year copper production guidance at 800,000-870,000t. Lithium Rio Tinto's attributable lithium carbonate equivalent (LCE) production fell by 26pc on the year to 12,700t in the first quarter, because heavy rainfall and weather events disrupted operations at its Olaroz and Fenix sites in Argentina. But the continued ramp-up at the Rincón starter plant in Argentina partly offset the production impacts. Rio Tinto maintained its 2026 LCE production guidance at 61,000-64,000t, with first production from Fenix 1B and Sal de Vida on track for the second half of 2026. By Candice Luo Rio Tinto's 1Q26 metals output attributable basis, '000t Production Q1 2026 Q1 2025 y-o-y Q4 2025 Q-o-Q 2026 guidance Iron ore 70,045 62,408 12% 80,515 -13% NA Primary aluminium 835 829 1% 852 -2% 3,250 – 3,450 Alumina 2,038 1,921 6% 1,969 4% 7,600 – 8,000 Bauxite 13,281 14,966 -11% 15,397 -14% 58,000 – 61,000 Copper (consolidated basis) 229 210 9% 240 -5% 800 – 870 Lithium carbonate equivalent (LCE) 12.7 17.2 -26% 15.4 -18% 61 – 64 Source: Rio Tinto Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Rio Tinto posts higher iron ore output in Jan-Mar

21/04/26

Rio Tinto posts higher iron ore output in Jan-Mar

Sydney, 21 April (Argus) — The crisis in the Middle East has yet to impact UK-Australian miner Rio Tinto's cost guidance, while iron ore output rose on the year, the firm said today in its January-March results. The company produced 82.8mn t in the quarter ( see table ), up by 12pc from a year earlier. Pilbara output was at 78.8mn t, up by 13pc from January-March 2025. Rio Tinto missed 13mn t of iron ore shipments in January-March 2025 because one of its railcar dumpers at the port of Dampier was flooded during Cyclone Sean. The firm's 2025 volumes of iron ore fell slightly on the year, because of weather-related disruptions early in the year . Tropical cyclones impacted its Pilbara shipments by about 8mn t this year , and around half is expected to be recovered, Rio Tinto said. Sales rose by 2pc to 75.7mn t, while the firm's full-year guidance for 2026 is unchanged at 343mn-366mn t. First sales for Rio Tinto's Simandou operation in Guinea occurred this month, including the first spot cargo . Production was 600,000t for the quarter. On the demand side, China's crude steel and pig iron production dipped by 1pc compared to the previous year, but other nations' output was up 1pc for January-February, before the US-Iran war disrupted this recovery. Cost guidance unchanged Rio Tinto uses about 28,000 b/d of gasoil, two-thirds at its Pilbara iron ore mine. Its 2026 cost guidance of $23.50-$25/wet metric tonne would not change despite rising fuel prices, the firm said. But energy costs are rising on the iron ore cost curve for higher-cost suppliers whose cost base is typically more sensitive to the gasoil price, Rio Tinto said. Each $10/bl movement in oil prices is expected to raise Pilbara iron ore unit costs by around $0.15/t from May. By Tom Major and Lawrence Wen Rio Tinto iron ore results mn t Jan-Mar '26 Jan-Mar '25 y-o-y ± % Global iron ore production (100% basis) 82.8 73.9 12 Pillbara operations Pilbara Blend and SP10 Lump 22.3 19.4 15 Pilbara Blend and SP10 Fines 31.5 27.9 13 Robe Valley Lump 1.5 1.5 0 Robe Valley Fines 2.1 2 4 Yandicoogina Fines (HIY) 10.4 9.4 11 Total Pilbara production 67.8 60 13 Total Pillbara production (100% basis) 78.8 69.7 13 —Rio Tinto Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Japan to boost recycled materials supply

21/04/26

Japan to boost recycled materials supply

Tokyo, 21 April (Argus) — The Japanese government has adopted a circular economy action plan to strengthen recycling of critical minerals, metals and plastics, aiming to expand domestic supply of recycled materials and reduce reliance on overseas resources, it announced today. The plan targets around ¥1 trillion ($7bn) in combined public and private investment by 2030, as Tokyo seeks to enhance economic security and industrial competitiveness. The government positions the shift to a circular economy as an urgent national priority that goes beyond environmental protection. In the metals sector, the plan sets targets for recycled material supply by 2030. It aims for recycled aluminium to account for around 40pc of domestic production of rolled aluminium products. Recycled sources are expected to make up about 30pc of domestically produced electrolytic copper, while around 30pc of materials used in rare earth-based permanent magnets will be supplied through recycling. For steel, the government will expand the availability of high-grade scrap used as feedstock for "green steel", which is produced with lower greenhouse gas emissions. Processing capacity to produce such high-quality scrap will be increased by around 2mn t/yr, while collection of scrap and industrial offcuts will also be strengthened. In plastics, Japan will promote the use of recycled materials to reduce dependence on imported feedstocks such as crude oil and naphtha. The government will require manufacturers to formulate and report usage plans, and will consider phased mandates on recycled content by the 2028 fiscal year. The plan also calls for strengthening recycling infrastructure, including investment in facilities and the development of AI-based sorting technologies to improve quality and reduce costs. It includes support for recycling hubs, networks, and processing, storage and smelting capacity. The move comes on the back of intensifying global competition for resources. Countries are increasingly seeking to secure not only primary resources but also recycled materials. China has tightened export controls on critical minerals while strengthening domestic recycling, and the EU has introduced stricter rules on exports of electronic scrap and expanded the use of recycled plastics. In rare earth supply chains, export controls by certain countries have raised concerns over supply stability, prompting Japan to accelerate efforts to secure domestic resources. The government will incorporate the plan into its upcoming growth strategy and basic policy on economic and fiscal management to be released this summer. By Fumito Nagase Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Western Australia extends support for lithium producers

21/04/26

Western Australia extends support for lithium producers

Sydney, 21 April (Argus) — The state government of Western Australia (WA) will extend a 2024 measure to waive fees to support two lithium hydroxide producers. The A$30mn ($21.5mn) pledge to extend fee relief first introduced in 2024 will benefit major Chinese lithium producer Tianqi and Australia's Covalent Lithium until 31 December 2027, state mines minister David Michael said on 21 April, instead of the scheme's original expiry date at the end of this year. A$5mn will also be allocated by WA to develop standards for the reuse of lithium by-product in construction materials, reducing disposal costs. Tianqi commissioned a pilot operation at the phase 3 expansion project of its Talison Greenbushes spodumene mine in Australia in December 2025 . The phase 3 expansion increased total lithium concentrate capacity at Greenbushes, jointly owned with Australia's IGO and US specialty chemicals producer Albemarle, to 2.14mn t/yr from a previous 1.62mn t/yr. Covalent, a 50:50 joint venture backed by Australian conglomerate Wesfarmers and Chilean lithium producer SQM, has capacity to produce 50,000 t/yr at its Kwinana refinery . Kwinana, Australia's third lithium hydroxide refinery, began production in August last year. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Markets underestimate US-Iran volatility shock: Citadel

20/04/26

Markets underestimate US-Iran volatility shock: Citadel

Lausanne, 20 April (Argus) — Commodity markets entered the US-Iran conflict with a fairly high level of escalation risk already priced in, but still sharply underestimated the volatility shock that followed, Citadel's head of commodities Sebastian Barrack said at the FT Commodities Global Summit in Lausanne today. In the run-up to the conflict, market estimates put the probability of a disruptive event at around 50-70pc, Barrack said. He said markets had done "a pretty good job" of pricing the range of likely outcomes before the conflict began, but failed to price volatility adequately. Oil and gas volatility rose by about 300pc in the first weeks of the conflict, far above levels implied beforehand. Barrack contrasted the episode with the market shock that followed Russia's invasion of Ukraine in 2022. At that time, gas volatility surged by around 500pc and margin requirements jumped roughly 15-fold, placing severe strain on trading firms and forcing some participants to cut positions because they could not finance them. This time, the sector entered the crisis in a stronger financial position, with larger capital buffers and more robust funding lines following the windfall profits of recent years, he said. Cash-futures disconnect not unusual Barrack rejected suggestions that futures markets had become detached from physical fundamentals, arguing instead that divergences between cash and futures prices reflect different parts of the market solving different problems. Cash markets — particularly in Asia — have shown stress more directly, he said. Futures markets, by contrast, increasingly reflect assumptions that the disruption will eventually ease and that deferred supply will return. Longer-dated prices are also being anchored by producer hedging, especially in the US, where sellers have taken advantage of high prices to lock in margins. The distinction matters beyond energy. Similar tensions between tight physical supply and forward pricing have emerged across metals markets in 2026, increasingly forcing investors to separate near-term supply stress from expectations of medium-term rebalancing. Barrack also said the surge in real-time information through social media has changed how traders process events. Market-moving remarks from US president Donald Trump and other political leaders have accelerated price reactions, but this has not reduced the need for detailed analysis of physical flows, inventory responses and the mechanics of supply disruption, he said. Politicians better prepared Barrack said policymakers now have a much stronger grasp of commodity market mechanics than they did during the 2022 energy crisis. Governments, caught behind the curve four years ago, have since developed closer links with industry participants and improved their understanding of how physical shortages are resolved through demand destruction, stockdraws and policy responses, he said. One area where policymakers may still lag market participants is in identifying changes in physical flows in real time, Barrack added, particularly when supply chains begin to adjust rapidly following a shock. By Raghav Jain Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Canada ZEV sales up by 47pc in Feb

Related news posts

Rio Tinto raises global copper output, cuts lithium

Rio Tinto raises global copper output, cuts lithium

Rio Tinto posts higher iron ore output in Jan-Mar

Rio Tinto posts higher iron ore output in Jan-Mar

Japan to boost recycled materials supply

Japan to boost recycled materials supply

Western Australia extends support for lithium producers

Western Australia extends support for lithium producers

Markets underestimate US-Iran volatility shock: Citadel

Markets underestimate US-Iran volatility shock: Citadel

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