Alliance gets air permit for Arizona Al smelter

Market: Metals
04/12/19

Arizona has granted prospective secondary aluminum smelter Alliance Metals an air permit, paving the way for the next steps in the project that is expected to break ground in mid/late 2020.

The air permit is a "significant benchmark" Alliance vice president Loren Barton told Argus. The company is now working to receive zoning approvals from La Paz County for the $30mn project.

The company aims to produce approximately 54,431 t/yr (120mn lbs/yr) of secondary aluminum products when the smelter is built, targeting a mixture of tolling and specification alloy.

Alliance aims to begin melting scrap at the facility in late 2020, Barton said.

Prior to its plans for a smelting operation, Alliance's core business was brokering exports of nonferrous scrap to Asia and Europe.

By John Betz

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News

04/12/24

Nippon, US Steel deal will be blocked: Trump

Houston, 4 December (Argus) — President-elect Donald Trump reiterated Tuesday his opposition to Japanese steelmaker Nippon Steel's purchase of US Steel. "I am totally against the once great and powerful US Steel being bought by a foreign company, in this case Nippon Steel of Japan," Trump posted to his Truth Social account. Trump added that by using tax incentives and tariffs he would make US Steel "strong and great again". Trump did not specify the tax incentives and tariffs he would impose. The president-elect has threatened 25pc tariffs against Canada and Mexico and to impose 20pc tariffs on all imports into the US. The proposed sale of US Steel has faced contention ever since its competitor Cleveland-Cliffs made an unsolicited bid for US Steel in August 2023. US Steel went with Nippon's $15bn takeover bid in December of that year , which has since been opposed by the United Steel Workers (USW) union, politicians, and Cliffs. The merger is currently under review by the Committee on Foreign Investment in the United States (CFIUS), before it goes to the president for a final decision. President Joe Biden, who has publicly said he would block the deal, may have the opportunity to make the final decision on the transaction before his term is up in January. If Biden makes a decision to allow the transaction to go through, it is unclear what, if any, recourse Trump would have with regards to the deal when he assumes office on 20 January. The US currently has 25pc Section 232 national security tariffs levied against steel imports from much of the world, a policy that Trump began in March 2018 during his first term. Since then both Trump and Biden allowed a number of countries and regions to be excluded from the 232 tariffs. The Steel Manufacturers Association (SMA), which represents the majority of US steel producers, on Monday called on Trump to remove most 232 exclusions and reimpose the 25pc tariffs on steel from Mexico. By Rye Druzchetta Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Find out more

News

Brazil's economy accelerates to 4pc growth in 3Q

04/12/24

News

04/12/24

Brazil's economy accelerates to 4pc growth in 3Q

Sao Paulo, 4 December (Argus) — Brazil's economic growth accelerated to an annual 4pc in the third quarter, led by stronger consumer spending, according to government statistics agency IBGE. The economy accelerated from 3.3pc annual growth in the second quarter and posted the fastest growth since the first quarter of 2023. Household consumption grew by 5.5pc in the third quarter from a year earlier, while government spending increased by 1.3pc. Services grew by 4.1pc. The industry sector grew by an annual 3.6pc, driven by civil construction and five-year high automotive production in July , according to the national association of vehicle manufacturers. Exports rose by 2.1pc, while imports grew by 18pc. The oil, natural gas and mining industry contracted by 1pc, thanks to lower oil and gas exploration and production. Brazil produced 4.35mn b/d of oil equivalent (boe/d) in the third quarter, down from 4.51mn boe/d in the July-September 2023, according to oil and gas regulator ANP. The electricity and gas, water and sewage management sector increased by 3.7pc from July-September 2023, favoured by higher demand despite higher power tariffs. Brazil faced a severe drought in the first two quarters of the year that lowered river levels at hydroelectric plants and increased power charges in September. But the agriculture and cattle raising sector fell by 0.8pc, with expected production of significant crops such as corn and sugarcane dropping from a year prior also because of adverse weather. Still, output of cotton, wheat and coffee increased by 14.5pc, 5.3pc and 0.3pc, respectively, according to IBGE. The investment rate — the percentage of a country's total production that is invested — grew to 17.6pc in the third quarter, an increase of 1.2 percentage points from the same period in 2023. Brazil's GDP growth in the third quarter was up by 0.9pc from the second quarter, reaching R3 trillion ($494bn). By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

US light vehicle sales at 3.5-year high in Nov

04/12/24

News

04/12/24

US light vehicle sales at 3.5-year high in Nov

Houston, 4 December (Argus) — Domestic sales of light vehicles in November reached their highest level in over three years, rising to a seasonally adjusted rate of 16.5mn on the strength of greater truck purchases. Sales of light vehicles — trucks and cars — increased from a seasonally adjusted rate of 16.3mn in October, the Bureau of Economic Analysis reported today. Last month's rate was the highest since 17mn in May 2021 and greater than the 15.5mn unit rate in November 2023. Declines in borrowing costs and improved sentiment about the US economy following Donald Trump's presidential election victory spurred consumers to spend more last month. Still, the prospect of higher tariffs and growing geopolitical tensions — induced by Trump's trade policies — could reignite inflation next year and tamp down buying. Truck sales rose by 2.5pc sequentially to a 13.5mn unit rate in November, while sales of cars edged lower by 2.9pc to a 2.96mn unit rate in the same timeframe. Domestic auto production slipped to a seasonally adjusted rate of 122,500 in October from 123,900 in September. That compared with 134,700 in October 2023. Auto assemblies are reported with a one-month lag to sales. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Thailand to extend BEV production commitment deadline

04/12/24

News

04/12/24

Thailand to extend BEV production commitment deadline

Singapore, 4 December (Argus) — Thailand's National Electric Vehicle Policy Board has approved an extension for battery electric vehicle (BEV) producers, which were supposed to fulfil their production commitment this year, according to the country's Board of Investment (BOI). BEV manufacturers received subsidies under the country's first phase of EV promotion measures — also called the EV 3.0 measures — and were supposed to produce one BEV this year for every vehicle they imported between 2022-23. The ratio will rise to 1½ BEV in 2025 for every imported vehicle. The unfulfilled portion of the production commitment will now roll over and manufacturers are required to instead follow the conditions under its second phase of EV promotion measures , the EV 3.5 measures. The portion that was not completed will not receive subsidies under either package, said BOI on 4 December. Subsidies under the EV 3.5 measures will "come into force" after those production commitments have been fulfilled. About 26 car manufacturers have applied to the incentive schemes, according to BOI. Thailand's Federation of Thai Industries (FTI) cut the country's 2024 auto output estimation twice this year. The estimation was cut from 1.9mn units to 1.7mn units in July, and once more to 1.5mn units in November. Thailand's total vehicle output in January-October came in at nearly 1.25mn units, down by 19pc compared to the same period a year earlier, according to FTI. October's vehicle output fell by 25pc on the year to 118,800 units, domestic sales dropped by 36pc to about 37,700 units and exports were down by 20pc to around 84,300 units. The country has produced 8,026 units of battery passenger cars, 159,176 units of hybrid passenger cars and 5,067 units of plug-in hybrid passenger cars over January-October, according to FTI. Cumulative registrations of battery passenger cars reached 213,173 units as of end-October, while that of hybrid passenger cars reached 455,364 units. The National Electric Vehicle Policy Board in July approved a temporary reduction of excise tax rate for hybrid EVs from 2028-32 on the conditions of car manufacturers investing in Thailand and adhering to strict vehicle CO2 emission requirements, which it said is expected to bring in around 50bn baht ($1.4bn) of new investments. Excise tax rates of between 6-9pc were set depending on HEVs' CO2 emission requirements. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Mexico factory contraction eases in November

03/12/24

News

03/12/24

Mexico factory contraction eases in November

Mexico City, 3 December (Argus) — Mexico's manufacturing sector contracted again in November, but at a slower pace than the previous month, according to the Mexican finance executive association's (IMEF) latest purchasing managers index (PMI) surveys. The manufacturing PMI rose to 48.3 from 47.2 in October, inching closer to the 50-point threshold that signals expansion. Still, the index remained in contraction territory for an eighth consecutive month. "There is some stabilization in the loss of economic momentum recorded in previous months," IMEF noted, but the overall trend reflects "stagnation or the absence of solid expansion in both manufacturing and non-manufacturing sectors." Manufacturing accounts for about a fifth of Mexico's economy. Within the manufacturing PMI, the new order index increased by 1.3 points to 47.3 but stayed in contraction. Production fell by 0.5 points to 46.1, with both sub-indicators in contraction for an eighth month. In contrast, non-manufacturing industries—including services and commerce—moved into expansion territory, rising to 50.5 in November from 49.3 in October. New orders in this sector climbed 2.1 points to 51.5, production rose 1.8 points to 50.5 and employment rose by 1.2 points to 49.1, though it remained in contraction for a fifth consecutive month. Inflation concerns raised Looking ahead, IMEF highlighted potential inflationary pressures tied to US President-elect Donald Trump's policies. These include possible supply chain disruptions driven by escalating conflicts with Russia and in the Middle East as Trump shifts toward a more transactional approach with traditional allies. IMEF also warned that Trump may seek to influence the US Federal Reserve to accelerate rate cuts, further fueling inflation. Domestically, deregulation and tighter migration constraints may fail to ease trade bottlenecks. Meanwhile, tax cuts without corresponding spending reductions could add significant upward pressure on prices, IMEF said. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more