Ford pauses production at Chicago plant

: Metals
25/05/09

Automaker Ford temporarily shut down production at its Chicago, Illinois, assembly plant following a supply chain disruption.

The company said it moved a planned downtime week ahead of schedule and expects to resume production by 19 May.

Congressman Frank Mrvan (D-Indiana) in a US House appropriations hearing on 7 May said the shutdown was due to a shortage of critical minerals needed to produce the company's braking systems. The company did not respond to the specific elements driving the shutdown.

The plant manufactures the Ford Explorer, Police Interceptor Utility and Lincoln Aviator.

By Jenna Baer

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25/05/16

Deere sees paying $500mn in US tariffs through Oct

Houston, 16 May (Argus) — Heavy equipment manufacturer John Deere expects US import tariffs to cost the company $500mn in the fiscal year that ends in October. The Illinois-based company paid roughly $100mn in tariffs in its fiscal second quarter, which ended 27 April. It expects to pay the US government another $400mn in tariffs during the second half of its fiscal year, executives said Thursday on an earnings call. Deere plans to recoup its tariff costs through a combination of charging higher prices and reducing its costs, chief financial officer Joshua Jepsen said. Tariffs also are expected to contribute to lower demand for tractors and other farm equipment produced by Deere. Large agricultural equipment sales across the industry are projected to fall by 30pc in the US and Canada in 2025 due to trade uncertainty and high interest rates, Deere said. Deere domestically produces 79pc of the completed goods it sells in the US, and 76pc of the components used at its domestic facilities are sourced from US-based suppliers. The company is prepared to invest $20bn to expand its domestic manufacturing over the next decade, chief executive John May said. The company imports 10pc of the components used in its US plants from Mexico and has begun qualifying its products for exemptions under the US-Mexico-Canada free trade agreement (USMCA) to mitigate the impact of tariffs. US sales of the company's roadbuilding machinery are subject to the US' 10pc global import tariff rate, as the equipment is predominantly made in Germany. The company reduced the low end of its profit forecast for the fiscal year to $4.75bn-$5.5bn, down from $5bn-$5.5bn. John Deere's second-quarter profit fell to $1.8bn, down by 24pc compared with the year-prior period. By Jenna Baer Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Liberty cancels Speciality Steel restructuring plan

25/05/16

Liberty cancels Speciality Steel restructuring plan

London, 16 May (Argus) — Liberty Steel has cancelled the restructuring plan for its Speciality Steel business in the UK. Liberty axed the plan as it was not going to receive sufficient creditor support to approve it, sources at the company said. Greensill creditors, and a majority of other plan creditors, had voiced their opposition to the restructuring in recent court proceedings. A sanction hearing to approve or reject the plan had been scheduled for 15-16 May, but that has now been cancelled as a result. The winding up petition by major creditor Harsco is scheduled to be heard on 21 May, so there is a risk the company could now be wound up if not placed into administration. In a note to creditors obtained by Argus , Liberty said it will "consult with UK government" and other stakeholders ahead of the petition. "The court's ability to sanction the [restructuring] plan depended on finalisation of an agreement with creditors," a company spokesperson told Argus . "This has not proved possible in an acceptable timeframe and so Liberty decided to withdraw the plan ahead of the sanction hearing on 15 May and will now quickly consider alternative options." The company remains "committed to doing all it can" to maintain the business, he said. The Speciality business has operated at a tiny fraction of its nameplate capacity in recent years, along with all of Liberty's operations in the UK, some of which have been technically mothballed already. Some sources have suggested the government could take control of Speciality Steel, as it has with British Steel, citing synergies between the two plants. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Lynas produces separated heavy rare earths in Malaysia

25/05/16

Lynas produces separated heavy rare earths in Malaysia

Sydney, 16 May (Argus) — Australian mineral firm Lynas Rare Earths has produced separated dysprosium at its Malaysian rare earths plant, becoming the first producer of separated heavy rare earths outside China. But Lynas today declined to comment on the volume of dysprosium produced at the plant. The company built dysprosium and terbium processing circuits , capable of separating up to 1,500 t/yr of heavy rare earths, at its Malaysian plant in January-March. It will start producing separated terbium at the site next month. The circuits will allow Lynas to eventually expand its heavy rare earth production line to include separated dysprosium, terbium, and holmium concentrate, as well as unseparated samarium/europium/gadolinium and unseparated mixed heavy rare earths. The company's first production of dysprosium comes less than a month after some Chinese rare earth suppliers limited offers for rare earth minerals , including dysprosium and terbium, in response to the Chinese government tightening export controls. The company produced 1,911t of rare earth oxides in January-March, including 1,509t of NdPr oxide, down by 46pc on the year because of improvement and maintenance works in Malaysia and WA. The company is also developing another rare earth plant in Texas with US government support . The plant will produce separated heavy and light rare earths. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Sherritt 1Q nickel, cobalt production dips

25/05/15

Sherritt 1Q nickel, cobalt production dips

Houston, 15 May (Argus) — Canadian miner Sherritt International said it produced less nickel and cobalt in the first quarter from a year earlier but expects to boost production in the second half of 2025. Sherritt's nickel production dropped by 18pc to 2,947 tonnes (t) and cobalt production decreased by 6pc to 323t from the same quarter last year. In February, the company raised its nickel and cobalt guidance for 2025, which remains unchanged despite lower first quarter production. Operations at the company's Moa nickel and cobalt project in Cuba has faced increased pressure from US sanctions, according to Sherritt chief executive Leon Binedell. Sherritt started the second phase of an expansion project at Moa, which the company expects to ramp-up in the second half of the year to full capacity. The company expects higher average realized cobalt price in the second quarter. In the first quarter, the company's average realized price for nickel rose by 1pc to C$9.98/lb while cobalt fell by 8pc to C$13.29/lb compared to the first quarter of 2024. Sherritt sold 3,439t of nickel in the quarter, down 15pc from a year earlier, while cobalt sales were up 26pc to 456t. Demand drove sales above production volumes, according to the company. Sherritt reported a C$40.6mn loss in the first quarter, slightly down from the C$40.5mn loss in the first quarter of 2024. Revenue rose 33pc to C$38.4mn. By Reagan Patrowicz Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Pakistan container scrap trade pressured by surcharges

25/05/15

Pakistan container scrap trade pressured by surcharges

London, 15 May (Argus) — Ferrous scrap suppliers are facing higher costs from new surcharges announced by major container shipping firms on trading routes to Pakistan, following recent geopolitical tensions in the region. Shipping lines have announced imminent emergency operational cost recovery surcharges on containers for trading routes to and from Pakistan following the recent escalation in tensions between the country and India. This resulted in days of fighting, with India launching attacks on Pakistan and Pakistan-administered Kashmir in retaliation for an April terrorist attack in Kashmir. India-Pakistan relations have stabilised after the countries agreed a tentative ceasefire on 10 May , but concerns remain over security in the region. Major global container shipping line Maersk has imposed charges of $300/container to Pakistan from every country, excluding those in Asia-Pacific, starting from 21 May or 13 June, depending on the country. Surcharges of $300-500/container have been implemented on trade from Pakistan. Other lines, including MSC, Hapag-Lloyd and CMA CGM, have announced surcharges on imports and exports ranging from $300-800/container, depending on line, route and trade direction, which will start coming into effect from mid-May for most regions, with those for other regions such as North America coming into effect in the first half of June. The Pakistan and Indian governments at the start of May imposed shipping orders banning merchant vessels bearing the other country's flag from stopping at their ports. And shipping lines changed trading routes across the region following the outbreak of hostilities and prior to the ceasefire announcement. But Maersk said this week it is "witnessing a gradual return to normalcy" at port operations in India and Pakistan, and will continue to monitor the situation closely. Indian imports/exports can remain on board through Pakistan ports, while in India, Pakistan imports are allowed to transit through Indian ports but not exports, the firm said earlier this week. Any increase to freight costs is likely to further limit exporters' interest in selling to the region, which has already slowed significantly, market sources said. As a result, some container exporters and freight forwarders do not expect the surcharges to remain in place. Containerised scrap suppliers said prices to Pakistan would need to rise by around $10/t to absorb the additional surcharges, but many noted difficulties, with buyers in the country not lifting their bids and their own purchasing prices upstream remaining firm. The last containerised shredded scrap sales to the south of Pakistan were reported in the $370-375/t range, which buyers are heard to be continuing to target. But domestic prices for shredded scrap in key supply regions remain firm, with inland yards not willing to accept lower prices sought by suppliers. Exporters would need one of the two price points to move to make trade with Pakistan workable. By Corey Aunger and Brad MacAulay Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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