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Iran steel supply unlikely to benefit from ceasefire
Iran steel supply unlikely to benefit from ceasefire
London, 8 April (Argus) — Iran's steel production is unlikely to recover swiftly despite the announcement of a two-week ceasefire between the US and Iran late on Tuesday that could bring relief from higher energy prices and potentially enable shipping to resume through the strait of Hormuz. Damage to major Iranian steel producers Mobarakeh Steel and Khuzestan Steel after air strikes at the end of March have resulted in the companies halting production because of extensive damage to their plants. Repairs and the resumption of output is expected to take months, which is likely to tighten the supply of products to the semi-finished steel markets, to which both mills are large suppliers, with a combined production capacity of around 14mn t/yr. This could in turn keep slab and billet prices elevated — fob Asia slab prices have increased by $24/t since the end of February, while cfr Asean billet prices have risen by $30/t, according to Argus assessments. Iranian prices have also strengthened, with a deal concluding $26/t higher for April shipment compared with March-shipment prices. But the ceasefire announcement could bring some production cost relief in the form of lower energy prices, based on initial market reaction. European gas prices plunged at market opening on Wednesday, with front-month futures at Europe's benchmark Dutch TTF hub nearly 20pc lower, while the front-month Ice June Brent crude contract fell by around 16pc. Lower crude prices weighing on fuel oil markets and the prospect of shipping through the strait of Hormuz resuming could also benefit producers and exporters by pulling freight rates lower. Some steel producers in Asia and Europe, particularly of long products, raised prices throughout March because of higher energy costs, while a number of seaborne suppliers increased offers on a cfr basis to account for surging freight and logistics costs. The ceasefire has had no immediate impact on steel prices today, some traders said, but others noted that the euro strengthening against the US dollar has affected import prices — an offer at $700/t cfr would work out around €10/t lower at today's rate compared with the end of last week. "The risk [for Hormuz] to remain blocked is still too high if the ceasefire will be interrupted. So I guess shipowners will not accept cargoes from the Gulf," a trader said. By Lora Stoyanova Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Metallium advances US gallium recovery project
Metallium advances US gallium recovery project
London, 7 April (Argus) — Australian metals recycling firm Metallium has advanced plans to recover gallium from complex waste streams after completing the first phase of a contract with the US Department of Defense (DoD) ahead of schedule. Metallium is developing a process to recover gallium from waste streams, including semiconductor scrap and electronic waste, using its proprietary Flash Joule Heating (FJH) process. The FJH process is a hydrometallurgical recycling method used to extract trace amounts of gallium from steel or alloy scrap. The company also aims to recover germanium and other critical minerals in future phases with this method. Metallium can now apply for Phase II funding of up to $1mn to advance pilot-scale operations. It expects to start full commercial operations at its Texas facility this year. In addition to government funding, Metallium raised $55mn from investors in June to accelerate scaling. Global producer Glencore will supply 2,400 t/yr of electronic waste, becoming the major feedstock supplier and offtaker for Metallium. Metallium signed a deal last week to supply US-based metals refiner and manufacturer Indium with several metals recovered from its US recycling operations. Gallium has been designated as a critical material by the US and other governments because of its importance in military systems, semiconductors and optics. Global supply remains highly concentrated, with China accounting for nearly all primary gallium production, according to the US Geological Survey. China's export controls, introduced in 2023, have intensified competition for non-Chinese supply, prompting investment in recovery methods. End-of-life recycling of gallium remains difficult to scale because the metal is present only in very small quantities once integrated into finished products. But higher prices and process improvements are making recovery projects increasingly viable as niche or strategic supply sources, particularly for defence-related demand, market sources told Argus . Gallium prices have risen by 175pc year on year. Prices remained steady today at $1,850-2,000/kg cif main airport on firm demand and limited supply outside China. By Cristina Belda and Harrison Holloway Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Germany invests $58mn in Aus RE project
Germany invests $58mn in Aus RE project
London, 7 April (Argus) — German state-owned development bank Kreditanstalt fur Wiederaufbau, operating on behalf of the German Raw Materials Fund, has signed an agreement with Australia's Arafura Rare Earths to invest €50mn ($58mn) in its Nolan Project, the mining company said on 4 April. Government agency Export Finance Australia will invest $100mn, Arafura said. The investment will be made through Australia's $5bn Critical Minerals Facility. The investments by the two government bodies will support the Nolan Project in Australia's Northern Territory. Arafura plans to produce 4,440 t/yr of NdPr oxide and 470 t/yr of mixed middle-heavy rare earth (SEG/HRE) oxide at the project, which will include both a mine and a processing plant. Arafura is aiming to become Australia's first fully integrated ore-to-oxide rare earths operation. The company already has a binding offtake agreement with Siemens Gamesa Renewable Energy to supply NdPr oxide from the Nolan Project for manufacturing permanent magnets for offshore wind turbines. Arafura is seeking European offtake partners for another 500 t/yr of NdPr oxide. By Maeve Flaherty Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia's Core Lithium to restart mine in May
Australia's Core Lithium to restart mine in May
Singapore, 7 April (Argus) — Australian producer Core Lithium will restart its Finniss mine, with mining and ore production to begin in May followed by first concentrate delivery in October-December, it said today. The company has awarded a surface mining services contract to NRW, an Australian construction and mining contractor, for open-pit mining at the Grants deposit at Finniss, as Core Lithium works on restarting the site. The operation has been in care and maintenance since 2024 owing to poor lithium prices. In March, Core decided to restart the site. Open pit mining will provide a "near-term production pathway" and feed source for its processing plant, said Core Lithium on 7 April. Ore processing and hauling are expected to start in July-September, with the first shipment anticipated in October-December, the company added. Other Australian lithium producers, such as Mineral Resources and PLS — formerly known as Pilbara — were similarly forced to either shutter operations or slow expansions during the extended lithium downturn. But a recovery in spodumene prices since late 2025 has since prompted producers to begin reversing those decisions. Australia's lithium loadings hit a record high in March at over 488,200t, according to vessel tracking firm Kpler's latest figures compiled by Argus , after cyclone disruptions curbed February exports. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.