Special

November 5, 2024

Metals Market Update: October 28 – November 1

Russia Relies Heavily on Alumina Imports from China In the first nine months of 2024, Russia increased alumina imports from China by 43% to 1.2 million tonnes, with imports expanding 1.6 times to 123,100 tonnes in September. In monetary terms, alumina imports from January to September grew 1.7 times to $582.6 million, doubling to nearly…
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October 31, 2024

Palladium: A unique metal with wide-ranging applications

The discovery of palladium and its early uses Palladium is one of the rarest and most valuable metals on the planet – it’s 30 times more scarce than gold. The history of this metal begins in 1802, when English chemist William Hyde Wollaston discovered a new substance while dissolving platinum in a mixture of nitric…
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October 28, 2024

Events, Trends and Forecasts: 21 – 25 October

CATL to Produce Lithium-Ion Batteries in Indonesia Indonesian state-owned corporation Indonesia Battery has formed a joint venture with China’s Contemporary Amperex Technology (CATL) to establish a lithium-ion battery production facility for electric vehicles. Capital investment in the project is expected to be at least $1.2 billion, with a production capacity of up to 15 gigawatt-hours…
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Nickel

October 31, 2024

Sumitomo Resumes Production at Ambatovy Nickel and Cobalt Project

Japanese trading house Sumitomo announced on Thursday that it had resumed production at the Ambatovy nickel and cobalt project in Madagascar at the end of October, following a pipeline issue in September. While production has restarted, the company is currently reviewing future output volumes. Sumitomo has faced challenges stabilizing production and improving profitability at Ambatovy,…
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October 29, 2024

Granite Creek to Acquire Majority Stake in Stillwater’s Duke Island Project

Stillwater Critical Minerals has signed a Letter of Intent (LOI) with Granite Creek Copper, allowing Granite Creek to acquire a 90% interest in the Duke Island copper-nickel-platinum-palladium (Cu-Ni-PGE) project. The all-share transaction aligns with Stillwater’s strategic focus on its flagship Stillwater West project in Montana. The Duke Island project, located in the Alexander Platinum Belt…
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October 29, 2024

Asian Nickel Production Climbs Despite Australian Mine Closures

According to an October 23 report, despite the ongoing closure of nickel mines in Australia, raw nickel production in the Asian market has continued to rise into the fourth quarter of 2024, leading to weak pricing. Declining sales of power batteries in China and subdued demand for stainless steel have further contributed to a bearish…
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Platinum

October 31, 2024

Top Platinum-Group Metal Producers of 2023: South Africa, Russia, and Beyond

Platinum-group metals (PGMs) include platinum, palladium, rhodium, and other metals prized for their durability, resistance to corrosion, and excellent catalytic properties. The automotive industry is the largest consumer of these metals, using them primarily in catalytic converters for vehicle exhaust systems. With a rebound and continued growth in auto production projected, particularly in developing markets,…
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October 25, 2024

Coronation Reinvests in PGM Sector as EV Momentum Slows

Asset management firm Coronation has reversed its stance on the platinum group metals (PGMs) sector, deciding to reinvest after initially pulling out a year ago due to concerns that the industry was facing a decline. The firm’s change of heart is largely attributed to the recent slowdown in the adoption of battery electric vehicles (EVs),…
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Palladium

October 25, 2024

Palladium Prices Surge on Threat of New Anti-Russian Sanctions

The price of palladium on the world market has surged to $1,170 per troy ounce for the first time in ten months, driven by concerns over potential new sanctions on Russian exports. On October 24, the price jumped by more than 10% in a single day, outpacing other precious metals and reflecting market fears about…
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October 24, 2024

US Urges G-7 Allies to Consider Sanctions on Russian Palladium and Titanium

The United States has reportedly urged Group of Seven (G-7) allies to consider imposing sanctions on Russian palladium and titanium as the Biden administration explores new strategies to pressure President Vladimir Putin’s war effort in Ukraine. A person familiar with the matter revealed that Biden administration officials floated the possibility during a meeting of G-7…
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October 16, 2024

Moscow Exchange to Launch Platinum and Palladium Trading in Rubles from October 21

The Moscow Exchange will begin trading in platinum (PLT/RUB) and palladium (PLD/RUB) with payment in rubles starting October 21, 2024. These new trading instruments will be available to both professional market participants and private investors, according to a statement released by the exchange. These instruments were initially added to the system in a state of…
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