Ellie Saklatvala, Senior Editor — Nonferrous Metals, provides a bitesize overview of the key price movements that happened in Q1 and how supply and demand fundamentals are shaping up as we move through Q2.
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Japan Al: 1Q premium surges on tight supply
Japan Al: 1Q premium surges on tight supply
Shanghai, 9 January (Argus) — Japan's aluminium P1020 premiums for the first quarter of 2025 was settled at $228/t over cash London Metal Exchange (LME) prices. Premiums rose by $53/t from the previous quarter, reaching the highest level since Argus began the assessment in 2016. Initial offers were much higher at above $240/t in December, and only a small volume was concluded at $228/t to Japan. The significant increase was primarily driven by concerns over future supply in the seaborne market and escalating trade measures in the global market. Some suppliers either withdrew their production forecasts or planned to reduce output levels, fuelling concerns about tight supply. China announced the cancellation of the 13pc export tax rebate for fabricated aluminium products from 1 December 2024, which led to increased demand from rolling mills outside China. The premium in the US also rose because of potential higher import tariffs. But demand in Japan is still weak owing to slow domestic car production and construction activity. Japan's domestic car production continued its downward trajectory for most of 2024, with output recording a year-on-year fall for every month from January to November, except in May and July. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Hyundai Motor plans $16.7bn Korean investment in 2025
Hyundai Motor plans $16.7bn Korean investment in 2025
Singapore, 9 January (Argus) — South Korean conglomerate Hyundai Motor, which owns major automotive brands Hyundai and Kia, plans to invest 24.3 trillion won ($16.7bn) in South Korea this year in what it said is its largest ever annual investment domestically. The domestic investment amount is W3.9 trillion or 19pc higher than in 2024, in a bid to "overcome the crisis" and "secure future growth engines" given global uncertainties through "continuous and stable" investment, said the group on 9 January. Around W12 trillion will go into its current investments and W11.5 trillion will go to research and development, while another W800bn will be injected into what it called "strategic investment". Hyundai Motor still plans to continue developing new electric vehicles (EVs) and accelerating the electrification transition, it said. A major investment in building an EV-only plant will be made this year, said the conglomerate. Kia's battery EV plant in Hwaseong that has a production capacity of 150,000 units/yr is still expected to be completed in the second half of 2025. Its EV plant in Ulsan is currently under construction and is expected to begin producing in the first half of 2026. Kia is expected to feature a full line-up of 15 EV models by 2027, while Hyundai is expected to have 21 EV models by 2030, said the group. The conglomerate sold around 4.14mn units of vehicles in 2024, down by 1.8pc on the year, mainly driven by lower domestic sales. Domestic sales totalled 705,010 units, down by 7.5pc on the year ,while its overseas sales were steady at almost 3.44mn units. A sales target of 4.17mn units has been set for 2025. South Korea's top battery maker LG Energy Solution (LGES), which supplies a significant number of batteries for Hyundai's and Kia's EV models, is expecting its 2024 operating profit and sales to see sharp falls, it said on 9 January. LGES earlier similarly indicated an uncertain outlook on the battery and EV market. LGES expects its 2024 operating profit to plunge by 73pc to W575.4bn and sales to fall by 24pc to W25.6 trillion. LGES expects to post its only quarterly loss of the year for October-December of W225.5bn, with sales expected to be down by 19pc on the year to W6.45 trillion during the quarter. LGES earlier has warned that significant cuts in capital expenditure from the firm during 2025 can be expected. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Brimstone will produce alumina in US by 2030
Brimstone will produce alumina in US by 2030
Houston, 8 January (Argus) — California-based cement maker Brimstone plans by 2030 to produce US smelter-grade alumina as part of its decarbonized cement manufacturing process. Alumina is the core material used to produce aluminum, and the only operational alumina refinery in the US relies on imported sources of unrefined alumina. Brimstone will produce alumina using carbon-free calcium silicate rocks, reducing the need for imported alumina as well as imported bauxite to use in alumina production. From January-September, the US imported 989,000 metric tonnes of alumina , including 749,000t from Brazil. In the same period, the US imported 1.6mn t of unrefined bauxite, including 1.3mn t from Jamaica and 232,000t from Turkey, in addition to 272,000t of calcined bauxite. Brimstone will begin pilot operations in 2025 and seeks to have its commercial demonstration plant operating by 2030. Today, Brimstone received $8.7mn of a total $189mn in federal cost share from the Department of Energy's Office of Clean Energy Demonstrations to help with site selection and other initial studies. By Cole Sullivan Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Titan extends Empire State Zn mine life
Titan extends Empire State Zn mine life
Houston, 8 January (Argus) — Canada-based Titan Mining reported an increase in zinc resources and the life of mine of the Empire State zinc mine near Gouverneur, New York. The mine's measured and indicated contained pounds of zinc increased by 22pc compared with Titan's 2020 assessment, totalling 636mn lb of total recoverable zinc and 541mn lb of payable zinc. Titan extended the life of mine out to 2033. The company is currently planning on 40,000ft of near mine underground drilling within existing mining areas in 2025 as well as 31,000ft of exploration drilling, 13,000ft in near mine drilling, and 18,000ft in regional surface drilling with the expectation of adding incremental production in the near term. The exploration drilling is made up of fifteen drill ready targets. Total near mine exploration targets are estimated to contain 4.8-5.3mn metric tonnes (t) of mineralized material at an average zinc grade of 10-14pc, coming out to between 935,000 and 1.47mn t of contained zinc. By Cole Sullivan Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
