Generic Hero BannerGeneric Hero Banner
Latest market news

Explosion hits CATL battery precursors plant in China

  • Market: Metals
  • 08/01/21

An explosion has hit a factory operated by battery recycling firm Hunan Brunp Recycling Technology, a subsidiary of major Chinese battery manufacturer Contemporary Amperex Technology (CATL).

Yesterday's accident at the factory in Ningxiang city in central China's Hunan province killed one person and injured six. The factory has a capacity of 15,000 t/yr for battery ternary precursors.

The firm's operations will be little affected by the accident, as it also has a production plant with 65,000 t/yr of capacity for the precursors that is able to meet regular demand from its consumers, market participants said.

The explosion was caused after waste aluminum foil caught fire in a garbage dump, Hunan Brunp said. The company said it will investigate any further potential dangers and ensure safe production in the future.

Hunan Brunp mainly produces ternary precursors for power batteries, using battery scraps from CATL as its main feedstock. Its 80,000 t/yr of ternary precursor output capacity corresponds to 60GWh of battery capacity.

Higher spot demand from the power battery industry in the run-up to the lunar new year holidays in mid-February have bolstered prices for many battery materials. Argus assessed prices for 99.8pc grade cobalt metal at 270-295 yuan/kg ($42.49-44.81/kg) ex-works yesterday, up from Yn265-280/kg on 5 January, with prices for 99.5pc grade lithium carbonate assessed higher at Yn51,000-56,000/t ex-works, up by Yn2,000/t over the same period.


Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

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
03/03/25

US should ‘feel the pain’ for tariffs: Ontario premier

US should ‘feel the pain’ for tariffs: Ontario premier

Calgary, 3 March (Argus) — US president Donald Trump needs to pull back on his tariffs against Canada or Ontario will stop the flow of nickel and electricity over the border, the premier of the country's most populated province said today. "If they want to annihilate Ontario, I'll do everything, including cut off their energy, with a smile on my face," said Ontario premier Doug Ford, speaking at the Prospectors and Developers Association of Canada's conference in Toronto. "They rely on our energy, they need to feel the pain." US president Donald Trump said on Monday the tariffs are "all set" to go into place on 4 March at 12:01am ET , a move that will likely to set off a trade war among the long-time economic allies. Under the executive orders Trump signed a month ago, the US will impose a 10pc tax on Canadian energy imports, a 25pc tariff on non-energy imports from Canada and a 25pc tariff on all imports from Mexico. "A tariff on Canada is a tax on Americans," said Ford. "They're going to get hurt, it's the wrong decision." Ford has directed his government to be ready should tariffs be implemented. The Liquor Control Board of Ontario (LCBO) will take "every bit of US alcohol off the shelves", a prospect that Ford said has senior politicians in Kentucky "losing their minds." A C$100mn deal with Elon Musk's Starlink internet services will be torn up, and Ford suggested legislation may be created to encourage consumers to buy more Canadian goods. "I'm not going to start a tariff war," said Ford. "[Trump] is going to get a rude awakening." In a broadcast interview later on Monday, Ford said he would stop the flow of nickel and electricity into the US. Canadian prime minister Justin Trudeau was en route from London on Monday and is expected to meet with his cabinet upon his return. "This is an existential threat to us," Canada's minister of foreign affairs Melanie Joly said Monday in Ottawa. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Find out more
News

Mexico factory contraction extends into February


03/03/25
News
03/03/25

Mexico factory contraction extends into February

Mexico City, 3 March (Argus) — Mexico's manufacturing sector contracted again in February, according to the latest purchasing managers index (PMI) survey from the finance executive association IMEF. The manufacturing PMI rose to 47 from 46 in January, marking the 11th consecutive month below the 50-point threshold between contraction and expansion. Manufacturing, which accounts for about a fifth of Mexico's economy, is led by the auto sector, contributing about 18pc of manufacturing GDP. Within the manufacturing PMI, the new orders index rose 1.6 points to 44.6, still deep in contraction. Similarly, production rose 2.8 points to 45.6. The employment index fell half a point to 46.4 in February, now in contraction for 13 consecutive months. Both manufacturing and non-manufacturing PMIs increased slightly in February but remained in contraction territory. The non-manufacturing PMI — covering services and commerce — increased slightly to 49.5 in February from 49.2 in January, staying in contraction for a third consecutive month. Non-manufacturing new orders rose 1.3 points to 49.4, production increased 1.6 points to 49.1 and employment fell slightly to 48.4 from 48.6, all in contraction. Victor Herrera, director of economic studies at IMEF, described the upticks on both PMIs as fluctuations, with the statistical "trend line in both PMIs showing we are moving further into contraction." With US president Donald Trump's tariffs on imports from Mexico set to begin Tuesday, IMEF warned they could severely impact industrial production and financial stability in Mexico. "This is a sign of further bad news on growth in the short term," with uncertainty tied to looming US tariffs on Mexican goods weighing on investment and industrial activity, Herrera said. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

US manufacturing slows in February: ISM


03/03/25
News
03/03/25

US manufacturing slows in February: ISM

Houston, 3 March (Argus) — Manufacturing activity in the US slowed in February as demand weakened, output growth eased and prices surged as producers braced for a raft of tariffs threatened by the new US administration. The Institute for Supply Management's (ISM) manufacturing purchasing managers index registered 50.3 in February, down from 50.9 in January, marking a second month of growth after 26 consecutive months of contraction. The breakeven point between growth and contraction is 50. Economists surveyed by Trading Economics had forecast 50.5 for the headline reading. "US manufacturing activity expanded marginally for the second month in a row in February," ISM said. "Demand weakened, while output stabilized. Inputs — defined as supplier deliveries, inventories, prices and imports — revealed the first signs of supplier difficulties due to some pull-forward deliveries and discussions about who will pay for tariffs." The new orders index dropped back into contraction territory in February after expanding for three months, registering 48.6 percent, down from 55.1 in January. The production index was at 50.7, down from 52.5 in the prior month but still showing growth after eight months of contraction. The prices index surged to 62.4, up from 54.9 in January. The backlog of orders index registered 46.8, up from 44.9 in January. The employment index came in at 47.6, down from 50.3 the prior month. The supplier deliveries index was at 54.5, up from 50.9 and indicating further slowing in deliveries as the economy improves. The new export orders index reading of 51.4 was down from 52.4 in January, showing slowing growth. The imports index rose to 52.6, up from 51.1 in January. Comments highlight tariff information vacuum Comments from survey participants showed a great deal of uncertainty about how the White House's tariff plans would effect operations and the economy. "The tariff environment regarding products from Mexico and Canada has created uncertainty and volatility among our customers and increased our exposure to retaliatory measures from these countries," a chemical products producer said in the survey. A transportation equipment manufacturer said that customers had paused new orders because of the many unknowns around the US' tariff plans. "There is no clear direction from the administration on how they will be implemented, so it's harder to project how they will affect business," the company said. The threat of the tariffs had had minimal impact on overall manufacturing and raw material supply as of the time of the survey, according to an electronics manufacturer. But limits on US government spending from organizations like the Food and Drug Administration, Environmental Protection Agency and National Institutes of Health were delaying some orders, the company said. But a machinery manufacturer said the pending tariffs were leading to higher costs for its products. "Sweeping price increases are incoming from suppliers. Most are noting increases in labor costs. Vendors are indicating open capacity. Inflationary pressures are a concern," the company said in the survey. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Australia's Rio Tinto terminal resumes iron ore exports


03/03/25
News
03/03/25

Australia's Rio Tinto terminal resumes iron ore exports

Sydney, 3 March (Argus) — UK-Australian metal producer Rio Tinto has started loading iron ore onto ships at its East Intercourse Island facility at the Port of Dampier today, ending over one month of weather-related export disruptions. Cyclone Sean flooded one of the company's railcar dumpers as it passed Dampier on 20 January, damaging it and halting exports from the iron ore terminal. But Rio Tinto did not stop all shipments in February. The company moved ore out of Australia's Pilbara region throughout most of the month, using other dumpers at Dampier and the nearby Port Walcott. Rio Tinto announced on 20 February that severe weather events over January and February — including Cyclones Sean, Zelia, Tahlia, and Vince — disrupted 13mn t of ore shipments . The company's mitigation plans only account for roughly half of the losses, it added at the time. Rio Tinto maintained its 2025 ore shipment guidance at 323mn-338mn t on 3 March, but announced that it would update investors again in mid-April, when the company publishes its first-quarter operations review. Argus ' iron ore prices rose slightly over the last quarter. Its iron ore fines 62pc Fe (ICX) cfr Qingdao price stood at $106.50/t on 28 February, up 4.3pc from $102.10/t three months earlier. By Avinash Govind Argus' Iron ore prices ($/t) Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Low flood risk expected for upper Mississippi River


28/02/25
News
28/02/25

Low flood risk expected for upper Mississippi River

Houston, 28 February (Argus) — The spring flood risk is low along the upper Mississippi River, as area soils and streams have amble capacity to accommodate seasonal precipitation, according to the National Weather Service (NWS). Precipitation in the Corn Belt has been below normal this winter, keeping the region abnormally dry, the NWS said Thursday in its second Spring Flood Outlook . Minimal snow pack has formed in the Northern Plains following lackluster winter precipitation. Both these factors have reduced the risk for March-April flooding along the upper Mississippi River. Around 0-2in of water equivalent are in the snowpack along the northern stretches of Minnesota, Wisconsin and Michigan. In addition, stream flows are below normal, giving them more capacity to handle spring rains and snow melt. In other areas of the Corn Belt and the Northern Plains, unfrozen soil is expected to soak up precipitation, asmoisture levels remain below normal. Southern Illinois and Missouri have no frozen soil, completely thawing since the previous outlook . Iowa has 16-24in of frozen soil, slightly higher over the past two weeks. Northern states such as Minnesota and Wisconsin still have an average of 24-36in of frost depth. These states have the entire month of March to defrost and gain moisture levels, since the majority of spring planting for the Corn Belt begin in April. Normal precipitation is projected for the upper Mississippi River basin through the first half of March, according to the NWS' Climate Prediction Center. The seasonal temperatures outlook for March-April are near normal, while precipitation is anticipated to be above average. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

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