EU could launch 'other countries' HRC dumping probe

: Metals
24/07/25

The European Commission soon could initiate a dumping investigation on some exporters selling into the 'other countries' quota for hot-rolled coil (HRC), according to multiple market sources.

The 'other countries' quota in recent quarters has consistently filled rapidly upon resetting, and this pressure has been intensified by rising Chinese exports since August of last year. Some key 'other countries' sellers have seen the volumes they take from China balloon as a result. Vietnam bought more than 4.2mn t from China in the first six months of this year, compared with about 6mn t in the whole of 2023.

China's increased exports has sparked talk that both India and Vietnam may start anti-dumping duty investigations.

When announcing its 15pc cap on countries selling into the 'other countries' quota, the commission specifically alluded to the increase in Chinese exports affecting trade flows. Vietnam, Egypt, Japan and Taiwan are by far the largest sellers into the 'other countries' quota, and all of the countries initially exceeded their 141,849t cap quickly when the new quotas took force on 1 July. In April, before the cap was implemented, these four countries amounted for more than half of the 1.4mn t imported by the EU.

The 'other countries' quota has essentially been reduced from 940,000 t/quarter to less than 600,000 t/quarter given the new cap.

Sources suggested duties could be applied retroactively if the commission finds that material has been dumped. They also suggested it could be difficult to show dumping in some countries, such as Vietnam and Egypt, where domestic prices are often below export levels. A leading producer was gathering information on Egyptian cargoes arriving at EU ports in recent months, a trading firm said.

The commission refused to comment on any potential investigation.

By Colin Richardson

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26/08/04

Australia's AVL partners with Alcoa on vanadium Bess

Sydney, 4 August (Argus) — Developer Australian Vanadium (AVL) and its fully-owned subsidiary VSUN Energy have signed a non-binding memorandum of understanding (MoU) to conduct a scoping study for a vanadium battery energy storage system (VBess) at aluminium producer Alcoa's alumina refining operations in Western Australia (WA). The study will assess the financial and technical merits of a 400-640MWh vanadium Bess for increasing Alcoa's renewable energy use and reducing its electricity costs during peak demand periods, AVL said on 4 August. The study will also examine "electrolyte supply considerations," which may include sourcing from AVL's 33 MWh/yr vanadium electrolyte plant in Perth, WA. AVL is one of four vanadium developers in WA and is currently conducting a feasibility study for its 11,200 t/yr vanadium pentoxide mine , located 50km south of Meekatharra in WA. The company partnered with Japanese manufacturer Sumitomo Electric to apply for the WA government's A$150mn ($105mn) tender to construct a 500MWh VBess in Kalgoorlie and submitted its stage-two expression of interest on 27 July. Alcoa expands aluminium operations Alcoa announced in June its $4.1bn acquisition of Australian miner South32's bauxite, alumina and aluminium assets across Australia, South Africa and Brazil. The deal is expected to close in the first half of 2027. This includes the 4.4mn t/yr Worsley alumina refinery , which will be added to Alcoa's existing WA alumina portfolio, including the 4.2mn t/yr Pinjarra refinery and the 2.85mn t/yr Wagerup refinery. Alcoa currently operates its WA alumina refineries using natural gas. The company extended a gas supply deal with Woodside for a further 31.1 petajoules (PJ) (830mn m³) over three years from 2027-2030 in June. Alcoa also has a 10-year gas supply deal with US oil firm Chevron for 130PJ starting from 2028. The Australian government will offer A$2bn in low-emissions aluminium production credits from 2028-29 to help smelters transition to renewable energy sources by 2035. South32's Worsley refinery emitted 3.18mn t/yr of scope 1 CO2 equivalent (CO2e) in 2024-25, making it the third largest non-LNG emitter in Australia, according to Australia's Clean Energy Regulator. Meanwhile, Wagerup and Pinjarra emitted a collective 2.58mn t/yr of scope 1 CO2e in 2024-25. By Daniel Gage-Brown Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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US manufacturing grows for 7th month in July: ISM

26/08/03

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26/08/03

US manufacturing grows for 7th month in July: ISM

Houston, 3 August (Argus) — Economic activity in the US manufacturing sector expanded in July at its fastest rate in more than four years, boosted by expanding production and orders as the Mideast Gulf war kept pricing pressures high. The Institute for Supply Management's (ISM) purchasing managers index registered 55.6 in July, up from 53.3 in June, the seventh consecutive month of growth and the highest reading since May 2022. Readings above 50 signal growth, while readings below that level signal contraction. The production index rose to 58.5 in July from 52.2 the prior month, a ninth month of growth and the highest since November 2021. "The manufacturing sector has shifted into a higher gear," Oxford Economic said in a note. "Defense and semiconductor-related machinery demand remain the brightest spots, and we expect these sectors to drive growth." The new orders index rose to 56.7 in July from 56 the prior month, also a seventh month of growth. New export orders rose to 53 in July, flipping from contraction at 48.5 the prior month. "Geopolitical risk, especially in the Middle East, pertaining to commodity and energy markets remains a concern," a transportation equipment executive said in an ISM survey response. "There has been some increased cost and transit time for rerouted shipments due to conflicts in the Red Sea, Strait of Hormuz and Suez Canal." The price index came in at 71.1, falling from 73 but still a 22nd consecutive month of expansion. Aluminum, copper, freight, fuel, metal products, oil-based products, semiconductors, soybean meal and steel products were among commodities that were up in price. The employment index rose to 52.8 from 49.7 in June, the first expansion in 33 months. Inventories edged down to 51.2 in July from 51.4, showing slowing growth. "We are seeing a very opportunistic and reactive marketplace," a chemical products executive said in a survey response. "Some customers are reducing inventory; others are pulling forward demand." By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Jet engines driving nickel, PQ titanium demand

26/08/03

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26/08/03

Jet engines driving nickel, PQ titanium demand

London, 3 August (Argus) — Aircraft engine manufacturing is driving demand for nickel, nickel-based superalloys and premium-quality (PQ) titanium products, and requirements will continue to increase as new alloy production capacity is commissioned, attendees at the recent Farnborough International Airshow told Argus . Engine original equipment manufacturers (OEMs) significantly increased deliveries in the first half of 2026, lifting material requirements from melters, casting foundries and forgers. US-based Aerospace delivered 269 widebody engines in the first half of 2026, up from 222 units a year earlier, while UK OEM Rolls-Royce delivered 157 widebody units, up from 122 a year earlier. On the narrowbody market, CFM International — a joint venture between GE and France's Safran — delivered 1,030 LEAP engines in the same period, from 729 a year prior. Pratt & Whitney, a subsidiary of US aerospace group RTX, increased deliveries by 15pc in the second quarter, but did not disclose shipment totals. Constrained original equipment (OE) engine supply and aftermarket capacity has been a well-documented bottleneck over the past two years, but first-half deliveries indicate a shift, attendees said. Communications from Airbus and Boeing also confirm that engine bottlenecks are easing, except for Airbus' dispute with Pratt & Whitney over geared turbofan deliveries for the A320neo. Boeing expects GEnx engine delays to resolve "this summer", allowing production to rise to 10 jets/month before year end, although seat certification problems persist. Airbus' limit on the A350 also lies inside the cabin, with shortages of lavatories, galleys and linings the main constraint to reaching rate 12 by 2028. Demand for premium-quality titanium billet, used for engine components, is strong, a distributor told Argus at the airshow. Lead times for PQ billet have increased, with one supplier in June quoting delivery in 3-6 months. Two producers also reported strong demand for titanium alloy and Inconel 718 fasteners, which are closely tied to OEM build rates. Further upstream, demand for critical high-temperature alloying elements has surged in the past year, lifting tungsten, rhenium, tantalum, niobium, hafnium and cobalt prices in conjunction with supply tightness. Alloy capacity expansions to lift material demand Engine OEMs and specialty alloy producers have made significant investments in the past year — including several announced at Farnborough — to expand melting, casting and forging capacity, or to secure existing supply lines. Expansions have centred on compressor and turbine discs and blades, where nickel-based superalloys are critical. Alloy producers will require more nickel and alloying elements as they commission and ramp up new capacity from late 2027-30. Still, alloy producers will need to balance demand for additional capacity between commercial aerospace and competing end-markets, notably defence and industrial gas turbines. Texas-based ATI is adding a fifth vacuum induction melting furnace in Monroe, North Carolina, which will increase capacity by approximately 8-10pc, or roughly 9,000 t/yr, when it starts up in the second half of 2027. UK's Doncasters is investing $50mn to build a new superalloy production facility in Auburn, Alabama, the state's commerce department and Doncasters announced at the airshow. UK-based Special Melted Products (SMP), a subsidiary of Italy's Acciai Speciali Cogne, signed two multi-year contracts with Rolls-Royce worth an estimated $240mn at Farnborough. SMP signed an agreement with Consarc Engineering for a new 18t VIM furnace, two 20t electro slag remelting furnaces and two 20t vacuum arc remelting furnaces a few weeks before the airshow as part of its Project Vulcan expansions, scheduled for commissioning in 2028. SMP has also acquired a 7,000t forging press from Danieli Group, which is scheduled to start operations next year. Safran renewed a contract with French specialty metals company Aubert & Duval for the production of CFM Leap engine forged parts. Safran is also commissioning a new 30,000t hydraulic press in Gennevilliers and additional production lines for complex rotating parts in Le Creusot in 2029, and a new turbine casting facility in Rennes next year. Melrose-owned GKN continues to invest in its foundry business — TPC Components — following its 2025 acquisition, to strengthen in-house superalloy castings production, it said last week. By Samuel Wood Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Australian vanadium firms target production by 2027

26/08/03

News

26/08/03

Australian vanadium firms target production by 2027

Sydney, 3 August (Argus) — Two Queensland-based vanadium developers are aiming to begin upstream production of vanadium pentoxide (V2O5) by next year to benefit from the rapid growth in global battery storage demand. One of the developers, Vecco Group, already began midstream production of vanadium electrolyte at its 35 MWh/yr Townsville pilot plant in 2023, and is planning to expand production to 300 MWh/yr by 2028 ( see table ). The company is planning to begin production of V2O5 at its 8,700 t/yr Debella mine by next year. A second developer, Richmond Vanadium Technologies (RVT), is also aiming to reach production of V2O5 at its 12,701 t/yr Lilyvale mine by 2027. Meanwhile, a third developer, Critical Minerals Group (CMG) is aiming to begin production of V2O5 at its 10,577 t/yr Lindfield mine by 2030. It plans to first begin production of vanadium electrolyte at its 24mn litre/yr (350 MWh/yr) Parks Special Activation Precinct (SAP) plant in New South Wales state by 2028 using V2O5 feedstock from third parties. There are six active developers in Queensland including Vecco, RVT, and CMG, while others are still early stage explorers or have not announced production timelines. A seventh developer, QEM, has suspended work at its Julia Creek mine due to "processing flowsheet challenges and high capital costs [which make it] commercially unattractive in the current market," the company told Argus on 28 July. Global supply and demand China currently accounts for most of global vanadium supply and demand. China produced 73pc of global V2O5 production in 2025, according to the 2026 US Geological Survey. Vanadium's key end-use application is in vanadium redox flow batteries (VRFB), which have technological advantages over lithium-ion batteries, particularly when deployed at scale. VRFB are inflammable, do not suffer significant performance degradation, contain 99pc recyclable vanadium content, and have three times the storage duration of lithium-ion batteries. Global battery storage increased by 108 GW in 2025, 40pc faster than in 2024, with China accounting for 60pc of installations, the International Energy Agency (IEA) said in its 2026 Global Energy Review . The IEA predicts battery capacity will grow from 86GW worldwide in 2023 to 760-1,200GW by 2030, and 2,000-3,500GW by 2040 depending on policy settings. Data centres will be a main driver for battery storage growth globally, accounting for 50pc of electricity demand growth by 2030 in the US, according to the IEA. Although not all data centres will be powered by renewables, large scale battery energy storage systems (BESS) will be used to bridge the intermittency problems of solar and wind power to allow renewable-powered data centres. In Australia, the Western Australian (WA) government has tendered applications for a A$150mn ($105mn) 50MWh vanadium BESS . But while the demand case for VRFB is relatively clear, it remains to be seen whether Australian companies can meet this demand at a competitive price without additional government support. Pricing assumptions and challenges CMG outlined V2O5 pricing assumptions of $5.90-8.70/lb for the first 25 years of its mine in a pre-feasibility study on 20 July. Meanwhile, QEM had an assumed price of $11.56/lb in its 2024 scoping study before declaring the project no longer viable in 2025. These assumptions are above the upper end of Argus -assessed V205 fused flake min 98pc du Rotterdam, which was at $5.50/lb on 28 July (see graph). They are also well above V2O5 98pc prices ex-works and fob China, which were both flat at $5/lb and $5.15/lb respectively on 29 July. The rising price of sulphuric acid poses another problem for CMG. The company plans to purchase 1mn t/yr of sulphuric acid and produce a further 3mn-4mn t/yr on site by burning imported sulphur prill. The project will remain financially viable if sulphuric acid prices do not increase more than 20pc from current levels, the company said. Argus -assessed sulphuric acid fob China prices surged by 178pc to $382.50/t in June because of supply tightness caused by the US-Iran war , but have since dropped to $345/t on 30 July due to widespread demand destruction . Sulphuric acid price volatility could continue to pose a risk for Australian refining operations. Significant government support is likely necessary for the industry to get off its feet. The Queensland government has built an A$115mn common user facility to de-risk projects and encourage refining in Australia, which will position Townsville as a "globally competitive hub for critical minerals processing," Queensland's natural resources and mines minister Dale Last told Argus on 18 July. Queensland will invest a further A$52.5mn in critical minerals in 2026-27, Last added, but he did not specify which projects would receive funding. Vanadium developers can pay the government a usage fee to rent out the facility, but fees are decided on a case-by-case basis depending on usage intensity and are commercially confidential, the government said. Vecco is the only vanadium developer to sign onto the facility so far. The five other Queensland-based vanadium developers did not respond to a request for comment about whether they planned to use the facility, or whether the QRCUF represents an adequate level of government support for their operations. By Daniel Gage-Brown Queensland-based vanadium projects Company Project Capex (A$) Status Start date Capacity Partners Upstream (vanadium pentoxide) Vecco Group Debella 798mn (2024) 2021 PFS 2027 8,700 t/yr V2O5 Idemitsu Australia, Sumitomo Electric Richmond Vanadium Lilyvale 511.9mn (2025) 2020 PFS, BFS by 2026-27 2027 12,701 t/yr V2O5 RKP Critical Minerals Group Lindfield 981mn (2026) 2026 PFS 2030 10,577 t/yr V2O5 Multicom Resources Saint Elmo A$350mn-$2bn (2025) 2021 DFS, construction on-going - 1,200-20,000 t/yr V2O5 Velox Energy Materials NQVP - 2022 MRE, exploration on-going - - M Critical Minerals Richmond Downs - Exploration on-going - - QEM Julia Creek 1.096bn (2024) 2024 scoping study, reviewed and overturned in 2025 Suspended 10,571 t/yr V2O5 Midstream (vanadium electrolyte) Vecco Group Townsville 26mn Producing 2023 35MWh/yr, 300 MWh/yr by 2028 Idemitsu Australia, Sumitomo Electric Critical Minerals Group NSW, Parkes SAP 47.5mn Planned 2028 24mn litres/yr, ~350MWh/yr Downstream (vanadium redox flow batteries) Sumitomo Electric Townsville - Planned - - Vecco Group, Idemitsu Australia Rongke Power Global - Vecco Group, Richmond Vanadium, QEM, Critical Minerals Group, Multicom Resources, Velox Energy Minerals, M Critical Minerals Queensland Resources Common User Facility Facility Purpose Capacity Flotation circuit Processes ore feedstock. 10-12 t/d Concentrate roaster Heats vanadium ore concentrate in a kiln with an alkaline salt such as - sodium carbonate to convert the vanadium into a water-soluble form. Atmospheric leacher Dissolves the roasted ore in acid to extract vanadium into a liquid solution. 20t/yr 99.5pc purity V2O5 Thermal purifier Recovers leached vanadium from solution as ammonium metavanadate, which is then heated to vaporise the ammonium and yield solid V2O5. - - Queensland Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development Vanadium pentoxide prices 2025-26 ($/lb) Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Australia’s BHP faces another iron ore port strike

26/07/31

News

26/07/31

Australia’s BHP faces another iron ore port strike

Sydney, 31 July (Argus) — Unionised workers at Australian mining firm BHP's Port Hedland iron ore export operations will strike on 8-9 August if the company and employees fail to reach an enterprise agreement (EA) at their next bargaining meeting on 4 August. The strike will start with a 24-hour ban on ship-loading from 05:30 AWST on 8 August (21:30 GMT, 7 August), followed by a 24-hour work stoppage from 05:30 AWST on 9 August (21:30 GMT, 8 August), the Electrical Trades Union (ETU) said on 31 July. About 150 workers plan to join the action over the weekend, it said. The combined port unions — the ETU, Australian Workers Union and Australian Manufacturing Workers' Union — will next meet BHP on 4 August to discuss wages and working conditions. The strike at the port in Western Australia's (WA) Pilbara region will proceed if the dispute is not resolved at the talks, the ETU said. The Chamber of Minerals and Energy (CME) WA estimates that a 24-hour stoppage at Port Hedland would cost BHP A$120mn ($83mn) in export revenue. CME WA chief executive Adam Morey described the Port Hedland strike action as "uncharted territory" on 31 July, noting that there had been little industrial action in the Pilbara region over the past three decades. BHP has been negotiating a new EA with its Port Hedland maritime workforce since October 2025, which will cover around 450 employees, excluding contractors. Up to 236 of these workers are eligible to strike, Fair Work Commission (FWC) records show. Port Hedland has a total workforce of around 1,200 workers, BHP said. Port Hedland workers last held industrial action on 16 July , but this did not prevent a loaded vessel from leaving the port early on 17 July, BHP said. Around 63 workers participated in the strike, the firm said. Port Hedland is the world's largest bulk iron ore export port and a key export hub in BHP's WA iron ore supply chain. BHP produced 256.9mn t of iron ore from its WA operations in the July 2025-June 2026 fiscal year. All of BHP's WA iron ore is exported through Port Hedland. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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