Australia’s BHP to import sulphuric acid for Lynas
Australian resources firm BHP has "affirmed its commitment to using reasonable efforts" to supply imported acid to Australia-listed mining company Lynas Rare Earths, Lynas said today.
This comes after BHP announced a temporary suspension of its Western Australia nickel business from October, citing bearish expectations against nickel prices.
Lynas has a supply contract with BHP Nickel West for the provision of sulphuric acid from the Kalgoorlie nickel smelter or imported sources to its Kalgoorlie rare earths processing facility, with the initial term until 30 June 2027.
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Pakistan urea demand drops on lower wheat prices: NFDC
Pakistan urea demand drops on lower wheat prices: NFDC
Amsterdam, 15 July (Argus) — Urea consumption in Pakistan fell to 483,000t in June, down by 21pc on a year earlier, with the country's National Fertilizer Development Centre (NFDC) attributing the drop to lower wheat prices and delayed sowing in the summer months. June output fell to 483,000t from 610,000t in the month last year and 737,000t in June 2022. Urea consumption in April-June was down by 18pc at 1.21mn t. The NFDC attributed the fall to lower wheat prices and the delayed sowing of crops in the summer Kharif season, which runs from April-September. But the NFDC did note that urea offtake may pick up in the rest of the season. The dire situation facing farmers has prompted Pakistan's government to impose an indefinite ban on wheat imports into the country, as of 12 July , in a bid to stabilise domestic wheat prices. This may subsequently encourage local urea purchases. The lacklustre consumption so far this Kharif season has eased pressure on urea supplies, with countrywide stocks unexpectedly climbing slightly through one of the peak-demand months of the summer season, up by 6,000t to 231,000t. Domestic production of 497,000t also added some support to inventories last month, but this was down from 548,000t in June last year. Pakistan's state-owned importer TCP has issued a tender to buy 150,000t of urea, closing on 29 July, which will add further support in August-September when cargoes are set to arrive. But the country is still facing a potential tightness of urea supply in July-August, should consumption levels pick-up soon and the import cargoes ship from origins with a long sailing time. The NFDC is projecting consumption of 750,000t and 615,000t in July and August, respectively, which may leave stocks as low as 29,000t by August, without factoring in imports. The cargoes must arrive in Pakistan by 25 September, TCP's tender document stipulated. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Vietnam’s Vinfast cuts EV sales goal, delays US plant
Vietnam’s Vinfast cuts EV sales goal, delays US plant
Singapore, 15 July (Argus) — Vietnam-based electric vehicle (EV) manufacturer Vinfast Auto has lowered its 2024 EV delivery goal and delayed its North Carolina EV plant's first production by three years, because of economic headwinds. "We have adopted a more prudent outlook that is carefully calibrated to near-term headwinds, taking into full consideration the realities of market volatility and potential challenges," said the chairwoman of Vinfast's board of directors Le Thi Thu Thuy on 12 June. Vinfast now expects to deliver 80,000 EVs in 2024, down from the 100,000 units it set earlier this year and having missed its delivery goal of 40,000-50,000 last year. Vinfast delivered 21,747 EVs in January-June, almost doubling on the year, according to the company. Its EV sales over April-June stood at 12,058 units, up by 24pc on the quarter and 26pc on the year. It started building a $2bn EV factory in US North Carolina's Chatham county last year, with output scheduled to begin in 2025 . But the firm has now made the "strategic decision" to push it back to 2028, Vinfast said. VinFast earlier this year said that it would invest $2bn in south India's Tamil Nadu state to develop its EV sector, including building an EV plant that can produce 150,000 units/yr. The plant will be "opened" in the first half of 2025, said Vingroup's chairman Pham Nhat Vuong last month, adding that India will be Vinfast's biggest Asia market. The global battery and EV sectors have been facing various economic and geopolitical headwinds. This includes persistently elevated interest rates that are curbing consumer spending, and rising geopolitical market barriers starting with the US and EU's tariffs on Chinese EVs, as well as Canada looking into potential punitive duties on Chinese EVs. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Germany's Aurubis copper smelter back from maintenance
Germany's Aurubis copper smelter back from maintenance
London, 12 July (Argus) — Germany's Aurubis today announced that its Hamburg copper smelter returned to service on 11 July from the largest maintenance shutdown in the company's history that began 7 May. A restart is now under way following the €95mn 60-day maintenance that included an overhaul of the flash smelter, installation of heat exchangers in the contact acid plant, as well as the installation of a tap hold drill and tamping machine for improved safety of copper slag tapping. Hydrogen-ready anode furnaces were also installed as measures to improve sustainability. Investments in automation are set to improve efficiency and extend the frequency of planned maintenance rounds to three years from two. The Hamburg smelter's outage has exacerbated sulphuric acid tightness in Europe , and the operational restart is expected to provide some relief to the market. This comes in addition to the lack of availability of molten sulphur in the region, leading to shortages of sulphur burnt acid , which has prompted some consumers to replace burnt acid with smelter acid, lifting demand. Aurubis produced 1.19mn t of sulphuric acid during the first six months of the 2023-24 financial year (October-March), up by 1pc on the same period a year earlier. Output at Aurubis' Hamburg smelter rose by 11pc to 512,000t in the period, while output from the Pirdop smelter saw a 6pc decline on the period to 679,000t . For the first three months of the year, Aurubis produced 598,000t of acid, unchanged from the same quarter of 2022-23, as increased output at its Hamburg smelter offset a decline from Bulgaria's Pirdop plant. Production at Hamburg totalled 258,000t from January-March. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Brasil e Bolívia assinam acordo para fertilizantes
Brasil e Bolívia assinam acordo para fertilizantes
Sao Paulo, 12 July (Argus) — Brasil e Bolívia assinaram em 9 de julho um acordo de cooperação para comercialização de fertilizantes e cloreto de sódio (NaCl). O acordo foi firmado após a visita do presidente brasileiro Luiz Inácio Lula da Silva à Bolívia no início desta semana. O acordo foi realizado entre o Ministério da Agricultura e Pecuária (Mapa) do Brasil e o Ministério de Energia e Hidrocarbonetos (MHE, na sigla boliviana) da Bolívia. O acordo não estabelece apenas regras para comercialização de fertilizantes e NaCl entre os dois países, mas também pretende promover a integração energética entre os vizinhos. Segundo o acordo, empresas e entidades de cada país se comprometem a comunicar suas disponibilidades de ureia, NPK, potássio e ureia de liberação lenta, a serem determinadas de acordo com as necessidades; avaliar como executar contratos de compra e venda; identificar potenciais clientes e possíveis destinações para fertilizantes e NaCl; e a estabelecer mecanismos de cooperação em estratégias de mercado. O acordo terá duração de cinco anos e poderá ser estendido pelo mesmo período. Por João Petrini Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2024. Argus Media group . Todos os direitos reservados.
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