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Demopolis, Alabama lock to open 30 May: Corps

  • : Agriculture, Coal, Coking coal, Fertilizers, Freight, Metals, Oil products, Petrochemicals, Petroleum coke
  • 24/04/03

The failed Demopolis Lock near the junction of the Tombigbee and Black Warrior rivers in Alabama is expected to reopen 30 May after repairs, the US Army Corps of Engineers (Corps) said today.

A clearer timeline for the repairs emerged after a more general May timeline finish date indicated in February.

Work on the lock has been ongoing since it collapsed in early January. Debris has been fully removed and the Corps is working on tests for the concrete mixture. Contractors are currently installing anchors and formwork.

The Corps expects concrete placement to start in mid-April and finish before the end of May.

The cost of the project to date surpassed $21mn, and could rise further the Corps said.


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25/01/13

Mexico’s industrial output up 0.1pc in November

Mexico’s industrial output up 0.1pc in November

Mexico City, 13 January (Argus) — Mexico's industrial production edged up 0.1pc in November, as gains in autos and other manufacturing offset weaker construction, national statistics agency Inegi said. Mexican bank Banorte described the monthly increase as "rather small," noting it followed a 1.1pc decline in October and was largely driven by base comparison effects. The bank added that the overall industrial outlook remained "fragile." Manufacturing, which represents 63pc of Inegi's seasonally adjusted industrial activity indicator (IMAI), increased by 0.7pc in November, though it failed to fully recover from a 1.7pc drop in October. Transportation manufacturing, a key subsector accounting for 12pc of the sector, rose by 3.8pc after a steep 4.3pc decline the prior month. Despite recent volatility, Mexico's auto sector achieved record annual light vehicle production in 2024, reaching 3.99mn units. Yet, automaker association AMIA warned of potential challenges in 2025 because of economic uncertainty, which could affect investment and demand. Mining, which makes up 12pc of the IMAI, increased by 0.1pc in November following a 1.1pc decline in October. Growth was driven by a 41.4pc jump in mining-related services, while oil and gas output fell by 2.4pc, marking a fifth consecutive monthly decline for hydrocarbons. Construction, representing 19pc of the IMAI, contracted by 1.8pc in November after modest gains of 0.2pc in October and 1.1pc in September. As industry eyes potential policy shifts under US president-elect Donald Trump, Banorte projected a weak start to 2025 for Mexico's industrial output. But it expects momentum to build as government spending on priority infrastructure projects "moves more decisively." By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Lithium prices unlikely to recover in 2025


25/01/13
25/01/13

Lithium prices unlikely to recover in 2025

London, 13 January (Argus) — Prices for lithium carbonate equivalent (LCE) are unlikely to recover this year, according to market participants, owing to high inventories and Chinese overcapacity. While the vast majority of firms have either suspended or trimmed production at costs above Argus -assessed prices (see graph) , a number of other factors have weighed on price rises, including redundant Chinese lithium refining capacity, inventories of low and mid-grade concentrate and end-of-life LFP batteries. Chinese lepidolite, African low-grade ores and Brazilian tailings are "not immune" to low prices, according to supply chain consultantcy SC Insights. Prices are currently far below highs of $80,000/t in late 2022, although not at record lows by historical standards. "We have put our lithium plant in Zimbabwe on ice for now, margins are just too tight," a southern Africa-based producer said. The market could start to recover in the second half of 2026 as carmakers turn increasingly towards lower-cost lithium iron phosphate (LFP) batteries, SC Insights said. Between 2025 and 2026, major carmakers will start "socialising the intensions of using more LFP and LFMP [lithium iron manganese phosphate]", with it especially vital that LFMP producers "react early and offer a cost-competitive solution in CAM/LIB [cathode active material/lithium-ion battery] spaces". SC Insights forecasts that global annual LCE production will tip over 2.5mn t of LCE by 2030 (see graph) , from just over 1mn t last year, based on the adoption of these newer battery chemistries. Buildout of this supply will depend, SC Insights said, on the proposed restriction of CAM/LIB technology by China. The buildout of Argentinian lithium production could be a key factor in 2025, according to SC Insights, after global mining giant Rio Tinto announced last October that it would buy Arcadium Lithium. Argentinian president Javier Milei and Rio Tinto held a meeting in December 2024 and although it is unclear what the results of that meeting were, the relationship between Rio Tinto and the Argentinian government could be important for the lithium market this year. Argentina holds the third-largest reserves of lithium at 3.6mn t behind Chile and Australia, and the second-largest pool of resources at 23mn t, behind Bolivia, according to the US Geological Survey in January. By Chris Welch Cost of production, lithium carbonate equivalent (LCE) Lithium carbonate equivalent (LCE) production t Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Singapore bunker prices rise to multi-month highs


25/01/13
25/01/13

Singapore bunker prices rise to multi-month highs

Singapore, 13 January (Argus) — Bunker fuel prices in the port of Singapore touched multi-month highs today, supported by a rally crude futures Ice Brent Singapore crude reached $81.23/bl by close of trading in the port city, following the announcement of sweeping sanctions by the US administration on Russian energy exports. Shipowners and bunker buyers in Singapore were cautious about procurement given the elevated prices. Many pushed back their bunker buying, preferring to monitor near-term market developments. Very-low sulphur fuel oil (VLSFO) prices on a delivered basis in Singapore jumped by $16.7/t to $590.72/t, the highest since 24 October 2024. Deals concluded by 19:00 Singapore time had touched $599/dob and could breach $600/t in the coming days if strength in the energy complex continues. "Market is firm… I would not dare to fix anything today," a ship owner said, adding that "buyers should be very careful" when making procurement decisions. Another vessel owner said its earliest VLSFO bunker requirement would be for delivery from 26 January, and it was not looking to trade at the moment. "It is very difficult to know how things will proceed, but think it might move higher," said a UK-based bunker trader. VLSFO supply availability is limited, which could further support upward movement in prices in the coming days. High sulphur fuel oil (HSFO) prices jumped by $34.67/t today to $507.67/t dob, the highest since 26 July 2024. Marine gasoil (MGO) prices were at a six-month high $731/t dob in Singapore, up by $30/t from the previous session. The upside in crude futures was reflected in marine biodiesel prices, with B24 rising in Singapore. B24, which is a blend of 24pc used cooking oil methy ester (Ucome) and 76pc VLSFO, were assessed by Argus $14-15/t higher at $721-726/t dob. Traders said B24 prices will follow the trend in VLSFO cargo prices, but spot liquidity may remain thin. "Today people are still trying to figure out what right value is," said a key shipowner and trader, adding that prices could rise further this week. By Mahua Chakravarty and Cassia Teo Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Nutrient affordability remains weak into 2025


25/01/13
25/01/13

Nutrient affordability remains weak into 2025

London, 13 January (Argus) — Global fertilizer affordability is still weak into 2025 as high fertilizer prices — mainly for urea — continue to weigh on farmer affordability. Nutrient affordability fell to 0.94 points in the first week of January, unable to recover from a declining trend that started in October 2024. An affordability index — comprised of a fertilizer and a crop index — above one indicates that fertilizers are more affordable, compared with the base year, which was set in 2004. An index below one indicates lower nutrient affordability. The fertilizer index — ⁠which includes global prices for urea, DAP and potash, adjusted by global usage — ⁠reached the highest value since October, driven by firmer urea prices, which weighs heavily on the fertilizer index owing to the relatively higher global usage when compared with DAP and potash fertilizers. Prices for urea climbed to levels last seen in late 2023, with activity ramping up across the globe. Prices appear well supported through the month with India entering the market over the weekend, seeking 1.5mn t of urea for loading by early March. A slight increase in the crop index owing to a rise in the first week of January for corn and soybeans was unable to offset higher fertilizer prices as the new year started. Crop prices for corn and soybeans, which represent 52pc of global consumption for key crops, also rose into early January following lower production estimates made by the US Department of Agriculture (USDA) for the upcoming crop campaign in the US. The USDA revised earlier estimates made for the 2024-25 corn and soybeans crop by 1.8pc and 2pc, respectively. By Lili Minton and Harry Minihan Global fertilizer affordability Index Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

India's coal output hits all-time high in 2024


25/01/13
25/01/13

India's coal output hits all-time high in 2024

Singapore, 13 January (Argus) — India's coal production hit an all-time high last year, led by an uptick in utility demand and a broader government push to boost domestic output. Combined coal output from domestic sources such as state-controlled Coal India (CIL), Singareni Collieries (SCCL) and captive blocks reached 1.04bn t in calendar year 2024, up by 7pc or 70.4mn t from a year earlier, according to Argus calculations based on coal ministry data. This supported overall supplies, including supplies to utilities and the non-power sector, which reached 1.01bn t, from 950.2mn t in 2023. The steady increase in domestic coal output and supplies was also led by demand from utilities, as the country's coal-fired generation rose last year, and generators continued to replenish stocks to meet the rising power demand. The strong output also followed India's broader goal to raise local coal production, with an aim to trim imports and meet its broader energy security objective. Delhi has been pushing CIL to ramp up its output, while also seeking higher production from blocks allocated to utilities and the non-power sector. The growth in production and supplies likely weighed on thermal coal imports in 2024, with seaborne receipts estimated to have dropped last year, a first annual decline since 2021. The dip in India's demand for seaborne cargoes in a well-supplied market was reflected in recent prices, with the GAR 4,200 kcal/kg market for geared Supramaxes falling to a 44-month low of $49.43/t fob Kalimantan on 27 December, the last assessment of 2024. The market eased further to $49.25/t fob Kalimantan on 10 January. Output mix Production at state-controlled CIL stood at 785.2mn t in calendar year 2024, up from 756.1mn t a year earlier, while its supplies totalled 757.4mn t in the 12-month period, up from 738.6mn t in 2023, according to Argus calculations based on the company's monthly output data. State-owned SCCL produced 67.12mn t in 2024, down by 4pc or 2.5mn t in 2023, the coal ministry data showed. But this was more than offset by steady growth in coal production at captive coal blocks allocated to industrial coal consumers, state-government mining companies and some utilities. Coal output from the captive blocks rose to about 187mn t last year, up from 143.3mn t in 2023, the data showed. The higher captive coal production followed an increase in production from coal blocks allocated to state-controlled utility NTPC , which aims to become one of India's biggest coal producers in coming years. India's policy to auction coal mines for commercial mining by private companies is also beginning to support the overall captive coal output. Supply mix Combined domestic coal supplies to utilities from CIL, SCCL and captive blocks reached 831.44mn t, up by 6pc from a year earlier, the coal ministry data showed. India's coal-fired generation — which meets most of its power requirements — reached 1,293.19TWh last year, up by 5pc from a year earlier, the Central Electricity Authority (CEA) data show. Overall domestic coal supplies to non-power consumers such as steel and cement totalled about 179mn t last year, up by 13pc from 2023, according to the coal ministry data. Supplies to captive power units fall under non-power sector as per the data. By Saurabh Chaturvedi India's coal suppy mix (mn t) India's coal output mix (mn t) Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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