Hot News

• 

  Prices Of High-Nickel Pig Iron Continue To Fall As Weak Market Demand Persists

  This week's market data indicates a continuous decline in high-nickel pig iron prices. The weekly average price of SMM 8-12% high-nickel pig iron was 983.6 yuan per nickel point (ex-factory, including tax), down 21.6 yuan from last week. Meanwhile, the Indonesian NPI FOB index fell by 3.1 dollars per nickel point from the previous week.On the supply side, domestically, due to the impact of the rainy season keeping Philippine nickel ore prices firm, the downward trend in spot prices has weakened production incentives. However, with the improvement in average grade, metal output has slightly increased. In Indonesia, the additional supply primarily comes from the shift back to high-nickel pig iron due to decreased profits in high-grade nickel, along with the ramp-up of new capacity, potentially increasing the total volume available for China to import.

• SQM reports a decline in lithium revenues while maintaining production guidance

  Sociedad Química y Minera de Chile (SQM) reported a significant drop in lithium revenues for Q3 2024, reflecting persistent pricing pressures in the global market.

• Sigma Lithium expects Phase 2 expansion to be operational within 12 months

  On 15 November, Sigma Lithium released its Q3 2024 results, reporting higher-than-expected production while progressing on its Phase 2 expansion project.

• Sayona and Piedmont merge to form a US$623 Million North American lithium leader

  Sayona Mining and Piedmont Lithium have announced a US$623 million all-stock merger to create North America’s largest hard-rock lithium producer.

• ExxonMobil signs MOU with LG Chem to supply lithium

  ExxonMobil and LG Chem have signed a non-binding memorandum of understanding (MOU) for a multiyear supply of up to 100,000 metric tonnes of lithium carbonate.