S Korea’s EcoPro to supply lithium hydroxide to SK On

Spanish Market: Metals
18/07/25

Major South Korean lithium-ion battery cathode active material (CAM) manufacturer EcoPro on Thursday signed an agreement to supply battery producer SK On 6,000t of lithium hydroxide by the end of this year.

The contracted volume is sufficient to produce batteries for about 100,000 electric vehicles, EcoPro said. In addition to this agreement, the firms are planning to sign another contract before December for additional supply for the next 2-3 years.

Demand for non-Chinese lithium raw materials is expected to increase on the back of the revised Trump administration's One Big Beautiful Bill Act, and EcoPro will use this agreement to secure more customers in North America and Europe, EcoPro's chief executive Kim Yoon-tae said.

EcoPro signed an agreement in March to partner with Canada's Hydro Quebec to expand its business portfolio to development and production of CAM for all solid state batteries.

But EcoPro has cut down domestic investment in South Korea because of "deferral of customer demand". EcoPro cut its planned investment in new facilities by over 20pc in June to 755.3bn Korean won ($543mn) from the original sum of W957.3bn announced in 2024. It also extended the commitment period to 30 September 2026 from 31 August 2025.

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18/07/25

GE Aero surges LEAP engine deliveries in 2Q

Houston, 18 July (Argus) — Engine maker GE Aerospace increased shipments of its LEAP aircraft engine during the latest quarter, as the company lifted its full-year guidance on greater demand for its commercial aftermarket services. Higher deliveries bode well for consumption of titanium- and nickel-based alloys used in an aircraft engine's low-pressure and high-pressure sections, as supply chains — especially for titanium — have been pressured by downstream disruptions that have slowed new orders and delayed intake. Ohio-based GE Aerospace's LEAP shipments climbed by 38pc in the second quarter from the same prior-year period, the company said on Thursday. Outright totals were not disclosed, but Argus estimates deliveries to have totaled around 410 units based on the 297 LEAPs that GE Aerospace handed off in 2024's second quarter. The LEAP engine powers aerospace manufacturers' main narrowbody programs, with the -1B variant used exclusively on Boeing's 737 MAX and the -1A variant an option for Airbus' A320neo family. GE Aerospace produces the LEAP with France-based Safran through their CFM International joint venture. The company expects to deliver 2,500 LEAPs in 2028, as it ramps production to meet Boeing's and Airbus' targeted build rates. Total commercial deliveries in the latest quarter rose by 37pc over the 402 engines delivered in the same period a year ago. Engine shipments for GE Aerospace's defense segment surged by 84pc from the 87 handed over last year. GE Aerospace credited improvements in its supply chain for helping drive higher engine shipments, with the company saying output at its 12 priority suppliers increased by 10pc sequentially. GE added that those companies were able to deliver on 95pc of its committed volumes in the quarter. That stability should help the company burn through $3bn worth of "trapped inventory" that has accumulated over the past two years, GE Aerospace said. Trapped inventory relates to materials that have been purchased but that cannot be used yet because other necessary parts are missing. Tariff pressures remain a concern for GE Aerospace, which still anticipates incurring a $500mn profit hit this year if higher "reciprocal" duties are implemented by US president Donald Trump come 1 August. Chief executive Larry Culp echoed his calls for a return to a tariff-free environment for the commercial aerospace industry, as the US continues with a Section 232 national security probe into imports. Still, some pressures have abated after Beijing and the White House reached a framework for a trade deal that has allowed GE Aerospace and other original equipment manufacturers to resume shipments to Chinese carriers. The company also sees "reduced risk for spare engines and spare part deliveries" with the absence of retaliatory tariffs in China "thus far." The company continues to work with Boeing to certify a new high-pressure turbine (HPT) blade, approval for which GE Aerospace expects to come in the first half of 2026. The upgrade kit — already being implemented on engines for Airbus — is expected to increase the LEAP's time-on-wing by "more than twofold." Aftermarket services fueling growth Greater demand for GE Aerospace's maintenance, repair and overhaul (MRO) services lifted the company's earnings in the second quarter, a trend it expects to continue as airlines are forced to fly their aging fleets longer because of delays in new aircraft deliveries. Quarterly aftermarket revenue increased by 21pc to $7.3bn on the year, as GE Aerospace sold more spares and aircraft intake for shop visits rose both at internal and third-party facilities. The company foresees MRO demand to only climb as its newer-generation engines — the LEAP and GEnx — begin their repair cycles and older-generation engines — the CFM56 and GE90 — continue to operate. The company estimates that aircraft retirements will average around 1.5pc this year, before rising to 2-3pc in 2026 and normalizing at 3-4pc going forward. Baked into those assumptions are that Boeing and Airbus deliver on their growth targets. GE Aerospace raised its full-year outlook for operating profit to $8.2bn-8.5bn from $7.8bn-8.2bn in its prior guidance released in April because of the stronger second quarter and higher services-led need for its products. The company's quarterly profit surged by 60pc to $2bn from the prior-year period, while revenues grew by 21pc to $11bn in the same timeframe. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Airbus extends $94mn support to parts supplier Spirit

18/07/25

Airbus extends $94mn support to parts supplier Spirit

London, 18 July (Argus) — European aircraft manufacturer Airbus has agreed to provide an additional $94mn support package to US parts supplier Spirit AeroSystems, to enable the company to stabilise its production on Airbus programmes ahead of the acquisition process closing. The initial agreement between Airbus and Spirit issues $94mn to the parts supplier for exclusive use on specified Airbus contracts. This batch of financial assistance follows funds of $29mn issued within three days of the original agreement on 28 June 2024, and a further $29mn paid to Spirit on 1 August 2024, bringing total support to $152mn. US aircraft maker Boeing is currently in the process of reacquiring its former subsidiary Spirit in a bid to stabilise its supply chain and financial position. The merger agreement also divested to Airbus various work packages carried out by Spirit for its European customer. The agreement specifies the following contracts to be eligible for the financial support: A350 wing, A350 fuselage, A321 NEO XLR inboard flap, Short Brothers GTA, A220 mid-fuselage, A220 pylon, A220 wing and business agreement. Any assets purchased with the financial support will be directly or indirectly assumed by Airbus once the acquisition transaction closes, which is expected in the third quarter. In addition to the $152mn support package, Airbus has also provided Spirit with non-interest bearing lines of credit of $200mn. Spirit confirmed earlier this month that Airbus will also take on mid-fuselage production in Belfast , having originally only committed to the A220 wing and A350 programmes. Shorts Brothers, which operates the Belfast site as a subsidiary of Spirit, reported a loss of $504mn in 2024 owing to adverse inflationary pressures on its supply chain and challenges with hiring and retaining a skilled workforce. Following the divestment to Airbus and acquisition by Boeing, Short Brothers will continue to supply structural aircraft components and spare parts to Canadian business jet manufacturer Bombardier, and UK engine firm Rolls-Royce. By Samuel Wood Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

BHP beats global iron ore production guidance in FY25

18/07/25

BHP beats global iron ore production guidance in FY25

Sydney, 18 July (Argus) — Australian iron ore producer BHP mined 263mn t of iron ore in the July 2024-June 2025 financial year, beating expectations, and despite facing severe weather challenges over the year. BHP had expected to produce at the lower end of its 255mn-265mn t range guidance because of disruptions due to February cyclones in Western Australia (WA) . But its final output sat firmly on the upper end of the guidance, the company's 18 July production report shows. BHP has set its 2025-26 financial year production guidance at 258mn-269mn t, on an equity basis. The increased guidance comes from both its WA mines and its 30mn t/yr Samarco mine in Brazil , which is currently ramping up to full capacity. BHP expects to produce 7mn-7.5mn t of ore at Samarco in the 2025-26 financial year, up from 6.4mn t last year. It will also produce 251mn-262mn t of ore at its WA mines — in-line with the 257mn t mined in the 2024-25 financial year. BHP's total iron ore output rose 1.6pc on the year in the April-June quarter to 70mn t (see table), driven by the ongoing ramp-up of Samarco. Production at the Brazilian mine hit 2mn t over the quarter, up 91pc on the year. The company produced 68mn t of ore at its larger WA mines in April-June, up 0.3pc on the year. BHP's output in WA increased in the 2024-25 financial year despite facing weather-related disruptions in early 2025. The company had shuttered many of its WA mines in mid-February, as Cyclone Zelia approached the state's coast. But operations resumed just days after the storm passed through the hub and had minimal impact on iron ore production. Elevated production at the company's 80mn t/yr South Flank mine fully offset the weather impacts. Production at BHP's Area C joint venture — including both South Flank and its Mining Area C operations — rose 13pc on the year in 2024-25 to 119mn t. BHP's sales were flat on the year in 2024-25, declining just 0.1pc to 256mn t. Its product mix remained similarly stagnant, with iron ore lumps accounting for 31pc of sales, up from 30pc a year earlier, and iron ore fines accounting for 69pc of sales, down from 70pc. By Avinash Govind BHP iron ore quarterly results mn t Apr-Jun '25 Apr-Jun '24 y-o-y Change (%) FY25 (July '24 - June '25) FY24 (July '23 - June '24) YTD Change (%) Production Western Australia 68 68 0.3 257 255 0.7 Samarco 2.0 1.0 91 6.4 4.7 34 Total 70 69 1.6 263 260 1.3 Sales Lumps 21 20 5.1 80 80 0.3 Fines 47 47 -1.1 176 176 -0.3 Total 68 67 0.8 256 256 -0.1 Source: BHP Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Q&A: American Pacific sees copper growth ahead

17/07/25

Q&A: American Pacific sees copper growth ahead

Houston, 17 July (Argus) — US President Donald Trump's planned 50pc tariffs on copper imports could drive significant changes in the domestic industry. Argus spoke with American Pacific Mining chief executive Warwick Smith and managing director of exploration Eric Saderholm — owners of several copper assets in the US — on the short and long-term copper outlook. Edited highlights follow : Will the expected 50pc copper import tariffs play a lasting role in changing US production and smelting capacity? Saderholm : Copper tariffs will greatly impact copper-centric companies. Both miners and downstream users will certainly be affected. The overall tariff moves are somewhat founded but I do not know if they will work across the board, especially for producing and refining domestic copper. The problem lies in the fact that while the US has significant copper reserves, it will take a long time to build new mines. The US really has no way to keep up with the copper production needed to be self-reliant. We must have smelting capabilities as well. Our processing techniques have been compromised over the last several decades, especially with smelters. We have allowed many US smelters to be blown up, removed, or become nonfunctional. The US government will have to think about funding the construction of smelters. Smith : The copper "tariff talk" from the White House has already started to play a role, as prices drastically increased following the tariff announcement. Larger US refined copper producers, such as Freeport-McMoRan and Rio Tinto, will likely need to start acquiring new copper sources under development. As larger companies scramble to look for US-based copper assets to build new mines, smaller companies with assets in the US will see stronger demand. Considering the inverse US dollar/copper price relationship and the falling dollar in the last year, do you see further incentives for more investment? Smith : I think this area of investment to move these assets forward has been under appreciated and under financed for at least a decade, up until the last two months. More money will continue to come into the market out of necessity, not because of a sudden shift. The world is heading in an increasingly "green" direction, which requires copper. We are seeing that partially play out now. I think there will be more significant investment into both major mid-tier and smaller mining companies that focus on copper as well. With the IEA and others warning of a copper deficit by 2035, do you expect the US to run into supply issues with current production capabilities? Smith : I think the short answer is yes because of an escalating supply-demand imbalance. The US will need to catch up in terms of production and finding new assets. Expediting permitting timelines will also be key to catching up on production. Not only is there a need to find new mines, but a need to permit them quickly enough to get them into production and drive those assets forward. What efforts by the current administration to shorten permitting, construction and start up times would contribute the most to additional capacity? Smith : They have come up with the FAST 41 transparency list focused on expediting strategic metal projects. The FAST 41 list is quite smart. Anecdotally speaking, getting exploration permits has become a lot quicker than under the Biden administration. We have worked since the Obama administration and Republicans do make things move a lot quicker. There is a project that we own in Nevada that under Obama, took us 6.5 weeks to get permits to drill. Under Trump, the first permit approval took four days. That is just exploration drilling now when you think about permitting in mind. You can extrapolate those timelines virtually the same way. It makes a big difference. From that standpoint, we like what they are doing. Some of the Department of Defense funding has also been very helpful. They have put a lot of money into that as well. I think they are doing a lot of the right things on that front. Saderholm : The expedited permitting initiatives are a bit of a double-edged sword. With Trump taking office at the beginning of the year, he wanted a lot of federal jobs to be eliminated. We have had issues with the lack of personnel. Even though they want to fast-track permits, there are not a whole lot of people to fast track them for you. Where do your Palmer VMS and Madison Mine projects stand currently? Smith : The Madison asset in Montana is our flagship. It is a really high-grade skarn surface with a porphyry underneath. We're wrapping up some drilling there and will lead another drill campaign shortly. The location is great as well. It is 40 miles from one of the largest porphyries in the world. It has the hallmarks that it could be a big winner for us. We also own 100pc of the Palmer project, a 16.7mn tonne volcanogenic massive sulfide (VMS) project up in Alaska. We have had many discussions about the project with other groups interested in the asset. The asset is probably 8-10 years away from production. By Reagan Patrowicz Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU HRC imports rise in May

17/07/25

EU HRC imports rise in May

London, 17 July (Argus) — European hot-rolled coil (HRC) imports rose on the year in May, but fell from the preceding month when quarterly quotas had just reset. Imports rose by 50pc on the year, and fell by 36pc on month, to 600,000t. Turkey remained the largest supplier, shipping 230,000t. Turkish shipments rose by 140pc on the year and edged up by 5pc on the month, supported by its large country-specific quotas for HRC, which helped maintain strong export flows in May. Sales from South Korea and Taiwan were limited, with Taiwan recording no shipments and South Korea supplying only about 3,000t, as both had exhausted their quotas in April. Indonesian shipments remained strong, as it is exempt from quotas. Volumes more than doubled on the year and tripled on the month to 116,500t. There has been talk of Indonesia coming into the scope of the safeguard, but mill sources suggest this is unlikely before next year as any review could see countries currently under the measure becoming exempt. Cold-rolled coil (CRC) and hot-dip galvanised (HDG) imports also declined in May, largely because of quota constraints. Combined volumes dropped by 26pc on the month to 127,500t. CRC shipments from Turkey fell sharply, down by 93pc on the year and month. India was the main CRC supplier with 31,000t, despite this being 25pc lower than in May last year. HDG imports saw a steeper drop, falling by 73pc on the month to 212,000t, underpinned by the absence of Vietnamese and Chinese suppliers. A similar trend was seen in longs. Rebar imports dropped by 65pc on the month to 69,200t, as Egypt and Turkey were out of the market after exhausting their quotas early in the second quarter. Wire rod imports fell by 50pc on the month to 144,000t. The UK increased its shipments by 27pc compared with April to 43,000t, making it the largest wire rod supplier in May. On the export side, EU HRC shipments declined by 11.5pc on the month to 196,804t, as sales to Turkey and the US weakened. The UK accounted for 92,400t of the total, marking a 62pc increase on the year. The Netherlands has been selling more into the UK since Tata Steel closed its Port Talbot blast furnaces, and continued to service some higher-spec grades from its sister plant in IJmuiden. EU rebar exports dropped by 27pc on the year but rose by 32pc on the month to 51,000t, supported by 15,400t in sales to the US, which had recorded no imports from EU in April. Wire rod exports also declined on the year and fell by 7pc on the month, with weaker sales to key destinations including Switzerland, the UK and US. By Elif Eyuboglu EU steel imports t May-25 ±% May 24 ±% Apr 25 HRC 601,258 49.3% -35.9% CRC 127,527 -47.0% -26.0% HDG 212,082 -57.2% -73.0% Plate 210,232 1.5% 24.5% Rebar 69,266 -45.7% -64.5% Wire rod 143,877 -5.6% -50.5% Slab 650,733 7.3% 47.3% Billet 179,713 38.3% -10.0% — GTT EU steel exports t May-25 ±% May 24 ±% Apr 25 HRC 196,804 -7.2% -11.5% CRC 82,126 -39.0% -11.4% HDG 251,449 -10.6% 9.3% Plate 128,946 -25.2% 4.7% Rebar 50,845 -27.0% 31.9% Wire rod 89,635 -26.6% -7.1% Slab 11,562 -18.3% -72.4% Billet 13,682 -45.6% -31.5% — GTT Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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S Korea’s EcoPro to supply lithium hydroxide to SK On

Related news posts

GE Aero surges LEAP engine deliveries in 2Q

GE Aero surges LEAP engine deliveries in 2Q

Airbus extends $94mn support to parts supplier Spirit

Airbus extends $94mn support to parts supplier Spirit

BHP beats global iron ore production guidance in FY25

BHP beats global iron ore production guidance in FY25

Q&A: American Pacific sees copper growth ahead

Q&A: American Pacific sees copper growth ahead

EU HRC imports rise in May

EU HRC imports rise in May

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