Quarterly rare earths update - April 2024
Ellie Saklatvala, Senior Editor — Nonferrous Metals, provides a bitesize overview of the key price movements that happened in Q1 and how supply and demand fundamentals are shaping up as we move through Q2.
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Illinois to open EV rebate program in August
Illinois to open EV rebate program in August
Houston, 22 July (Argus) — The Illinois Environmental Protection Agency (EPA) will launch its next electric vehicle (EV) rebate program, offering up to $4,000 from 1 August to 31 December. New or used EVs with a selling price up to $80,000 on the bill of sale are eligible for a $2,000 rebate. Low-income applicants can receive an additional $2,000. Buyers must apply within 180 days of the purchase date. Eligible applicants' income cannot exceed 500pc of the federal poverty line. The Illinois General Assembly has allocated about $14mn for the current fiscal year ending 30 June 2027. The previous EV rebate application cycle received 3,499 applications, with 3,001 rebates issued, more than half to low-income applicants. By Carol Luk Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
World Cup lifts Crown NorthAm can shipments in 2Q
World Cup lifts Crown NorthAm can shipments in 2Q
Houston, 22 July (Argus) — Packaging manufacturer Crown Holdings boosted North American shipments of aluminum beverage cans in the second quarter from a year earlier, largely attributing the uptick to stronger-than-expected demand stemming from World Cup festivities. Regional sales volumes in April-June increased by 5pc on the year, with Crown saying roughly two percentage points of the growth could be tied to the global soccer tournament, the Florida-based company said Tuesday. Crown does not report outright shipment totals. "Our comments previously with respect to the World Cup would have been something along the lines that it's a four-week tournament and how much more can people drink?" Crown chief executive Timothy Donahue told analysts. "Well, guess what? They drank a lot more" than analysts had anticipated. Higher sales volumes signify a potential supply influx of used beverage cans (UBC) and class scrap, which are key feedstocks for aluminum rolling mills. Greater availability may weigh further on UBC buying spreads, which are hovering near historic lows following sharp increases in the Midwest transaction price — against which UBCs are discounted — and subdued intake from consumers. The company lifted its full-year guidance for North American beverage can shipments, now expecting 3-4pc growth this year above 2025 levels, compared with gains of 2-3pc that it forecast in April. It cautioned that deliveries in the latter half of 2026 will slow compared with the second quarter, given the absence of demand tailwinds from World Cup and July 4th holiday celebrations. "We had a quarter we didn't expect for a lot of reasons," Donahue said. Still, Crown anticipates that demand in the region will hold firm, saying aluminum beverage cans continue to be the packaging substrate of choice for drink manufacturers. The company, though, is monitoring how persistent inflationary concerns and higher household costs may impact consumer spending. The boost in North American sales volumes supported Crown's global deliveries in April-June, which increased by 5pc on the year. The company registered "double-digit" shipments growth in Asia and 7pc gains in Europe, which helped to offset a 10pc decline in Latin America — most notably in Brazil. Quarterly deliveries in the Middle East increased from the prior year, as shipments from its facilities in Jordan and Saudi Arabia outweighed a 20pc drop in the UAE because of the US-Iran war. Crown's profit increased by 35pc to $245mn in the second quarter on the year, while revenues rose by more than 16pc to nearly $3.7bn over the same period. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Evolution gets first Vietnam NdPr metal shipment
Evolution gets first Vietnam NdPr metal shipment
Houston, 22 July (Argus) — US rare earth firm Evolution Metals and Technologies (EM&T) received its first shipment of five metric tonnes (t) of neodymium-praseodymium (NdPr) metal from Vietnam to make high-performance magnets. EM&T contracted Japan's Senri Trading to buy bulk quantities of NdPr metal from SRE Vietnam, a wholly owned subsidiary of Japan's Tokai Trading, the company said today. The initial shipment is the first stage of an agreement for SRE to scale deliveries to support EM&T's production capacity, which is expected to reach 10,000 t/yr by November. The company will convert NdPr metal into alloys and then into magnets at its commercial facilities in South Korea. It has also contracted Japan's equipment maker Ulvac for magnet-making equipment. The development aligns with the 20 July executive order from US president Donald Trump and the 1 January 2027 sourcing deadlines for rare earth permanent magnets in US defense systems, the company said. EM&T currently has a capacity of 400 t/yr of bonded magnets and 260 t/yr of sintered magnets, selling to customers in the semiconductor and automotive industries, including LG, Hyundai, Samsung, Ford and Mercedes-Benz. By Carol Luk Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Lundin maintains copper guidance despite Chile storm
Lundin maintains copper guidance despite Chile storm
London, 22 July (Argus) — Canada's Lundin Mining said a severe winter storm in Chile has temporarily halted operations at its Caserones copper mine, but the firm still expects to meet full-year production targets. Heavy snowfall cut power and access to Caserones on 18 July, forcing a suspension, while rainfall affected mining at the Candelaria mine. But milling continues at Candelaria using stocks and Caserones will restart once power and site access are restored, according to Lundin. The disruption is more likely to defer output than remove meaningful supply from the market if access and power are restored within days, Lundin said, adding that it already factors weather-related interruptions into annual guidance at Caserones and thus has maintained its guidance for the year. Caserones has become increasingly important to the firm, accounting for almost half of its first-quarter copper output after production there increased because of higher grades. The mine produced 132,881t of copper last year and the firm expects it to produce 130,000-140,000t this year. Lundin said in March that Caserones would add 6,500-7,000t of attributable copper production this year. By Chris Welch Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.