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You can unsubscribe from these updates at any time. We manage your personal data in accordance with our privacy policy.US steelmaker Nucor edged up its published hot-rolled coil (HRC) spot pricing today by $5/short ton (st).
The company set its weekly consumer spot price (CSP) this morning at $935/st outside of California, where it raised its CSP by $5/st to $995/st.
Lead times are 3-5 weeks.
The CSP increase was the smallest since Nucor began raising prices in late-January.
The Argus US HRC Midwest and southern assessments rose by $15/st on 18 March to $950/st ex-works.
Sao Paulo, 12 June (Argus) — Brazilian battery electric vehicle (BEV) sales reached an all-time monthly high of 6,969 units in May because of improving charging infrastructure and greater consumer familiarity with the vehicles, according to the Brazilian EV association ABVE. After four months of below-average BEV sales in Brazil — driven by record-high consumer demand for hybrid electric vehicles (HEVs) — sales of fully electric models rebounded in May, rising by 35pc from a year earlier. Sequentially, BEV sales surged 48.2pc from April's 4,702 units, ABVE data showed. In May, fully electric vehicle sales grew in all but two states compared with April. The Northeastern region, characterized by less-developed charging infrastructure outside major urban centers, saw the highest monthly growth. Sales rose by 59pc to 1,665 units in May from the prior month, according to data from ABVE. Chinese automaker BYD further increased its dominance in the Brazilian EV market, accounting for 5,596 units sold, more than 80pc of all BEV sales in May. Volvo and fellow Chinese producer Great Wall Motors (GWM) closed out the top three at 514 and 181 units, respectively. BYD does not see this spike as a seasonal or isolated phenomenon, but as a new reality in the Brazilian auto market, which is getting used to EVs, according to the company's senior VP in Brazil, Alexandre Baldy. "We are increasingly growing our dealership network in Brazil at 180 stores," Baldy told Argus on Thursday. "We'll reach 272 stores by the end of the year, solidifying our presence in all regions of the country." Between April and May, BYD opened 15 new dealerships, focusing on more remote regions such as the Midwest and Northeast. ABVE cited, in a release, the scaling of new brands and models, along with improving charging infrastructure, as reasons for the high demand for rechargeable vehicles, such as BEVs and plug-in hybrids (PHEVs). Rechargeable vehicles make up 87pc of all EVs in Brazil, according to ABVE. May was the first full month for two Chinese carmakers that recently debuted in Brazil: Omoda and Jaecoo, both subsidiaries of the Chery Auto Group, which has been in the country since 2009. The brands share dealerships, with Omoda marketing BEVs and Jaecoo aiming for the PHEV market. They sold a combined 398 units, according to Fenabrave, a private body that represents car dealerships in Brazil. Hybrid vehicle sales keep growing HEV sales continued to grow at a strong pace in May, rising by 81pc to 15,160 units over the year. Sequentially, HEV demand nudged up 1.5pc from April's 14,927 units. Brazilian consumers tend to prefer hybrids — plug-in or not — because of the lack of charging infrastructure outside of major urban centers, although PHEVs are the preferred choice because of their flexibility to alternate between a fully electric driving experience and a regular, gas-powered one. May's PHEV sales rose by 95.2pc over the year but fell 4.2pc sequentially from April because of the shift in demand towards BEVs. Total EV sales in Brazil — encompassing BEVs and HEVs — hit 22,101 units in May, a 63.3pc increase over the year and up by 12.7pc from April. EVs make up 13.2pc of Brazil's total car market. HEVs: Fiat tops BYD as best-selling brand In May, Fiat overtook BYD as the best-selling HEV brand in Brazil, marking the first time since July 2024 that the Chinese automaker has lost the top spot in the market. Fiat, which debuted in the HEV market in November 2024, quickly took advantage of its status as a traditional, well-known brand among Brazilian consumers to become a leader in the segment. It sold 4,299 hybrid units in May, besting BYD's 3,702, according to data from Fenabrave. HEV sales for the Italian automaker rose by 9pc in May from the previous month, pushing its market share to 28.3pc. BYD, meanwhile, saw its HEV sales drop by over 1,000 units in May from the prior month, as demand shifted towards its fully electric models, which posted record sales. Despite the monthly decline, BYD's HEV sales were up 137pc on the year. The company held a 24.4pc market share in May — down 7.3 percentage points from 31.7pc in April. Fiat — a Stellantis subsidiary — markets two models of mild-hybrids (MHEVs), a regular internal combustion vehicle with a small 12V or 48V non-plug-in battery that assists the gas-powered engine and improves fuel efficiency. Despite the battery not powering the wheels, MHEVs are eligible for environmental tax exemptions and other governmental benefits just like more traditional EVs. By Pedro Consoli Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Seville, 12 June (Argus) — Emissions in sectors covered by the UK emissions trading scheme (ETS) declined by 11.5pc year on year in 2024, data published by the UK ETS authority show, slowing their decline slightly from the previous year. Stationary installations covered by the UK ETS emitted 76.7mn t of CO2 equivalent (CO2e), down by 12.9pc from 2023, the data show. But this was offset somewhat by a 2pc increase in aviation emissions to 8.99mn t CO2e. Overall UK ETS emissions now have declined for two consecutive years, having fallen by 12.5pc in 2023. Emissions under the scheme rose by 2.5pc in 2022, as a strong rebound in aviation activity following earlier Covid-19 restrictions outweighed declining stationary emissions. Stationary emissions have decreased in every year since the scheme launched in 2021. The majority of the decline in stationary emissions under the UK ETS last year took place in the power sector, where emissions dropped by 18.2pc to 30.6mn t CO2e. The country's last coal-fired plant, Ratcliffe-on-Soar, closed in September last year. And the share of gas-fired output in the generation mix dipped as wind, solar and biomass production and electricity imports edged higher. Industrial emissions also declined, by 8.9pc to 46.1mn t CO2e. The iron and steel sector posted the largest relative drop of 30pc to 6.54mn t CO2e. Emissions from crude extraction fell by 6.4pc to 6.0mn t CO2e, while emissions from gas extraction, manufacture and distribution activities decreased by 8.9pc to 5.3mn t CO2e. The chemicals sector emitted 2.28mn t CO2e, down by 5.2pc on the year. A total of 43 installations were marked as having surrendered fewer carbon allowances than their cumulative emissions since the launch of the UK ETS, as of 1 May. A further two installations failed to report their emissions by the deadline. "Appropriate enforcement action" will be taken against operators that fail to surrender the required allowances, the UK ETS authority said. Overall greenhouse gas emissions across the UK economy dropped by a smaller 4pc last year, data published by the government in March show. This decline also was driven principally by lower gas and coal use in the power and industry sectors, with smaller declines in transport and agriculture, not covered by the UK ETS, and an increase in buildings emissions, also out of the scheme's scope. Emissions under the EU ETS in 2024 dipped by a projected 4.5pc from a year earlier, based on preliminary data published by the European Commission in April. The UK and EU last month announced that they will "work towards" linking the two systems together. By Victoria Hatherick UK ETS emissions mn t CO2e Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Mumbai, 12 June (Argus) — State-owned Hindustan Copper Ltd (HCL) announced today that it is ramping up its copper ore production capacity to 12.2mn t/yr by the fiscal year ending March 2031. The company plans to raise capacity over the next five years by expanding existing mines and reopening closed ones. HCL lifted ore production by 13pc on the year to 3.78mn t in the fiscal year ending March 2024 from 3.35mn t in the previous year. It expects output to reach 4.35mn t in the 2025-26 fiscal year, and will add about 2mn t/yr until it hits the 12.2mn t target. HCL has already resumed production at its Rakha mine in the Jharkhand region. And it plans to expand production at its Kendadih mine, also located in Jharkhand, by 250,000t before December. The company will invest about 20bn rupees ($234mn) over the next 5-6 years to meet its expansion target. The expansion is part of HCL's strategy to boost domestic copper output and reduce reliance on imports. Investment in infrastructure, renewable energy, electric vehicles production, rural electrification and urban housing projects is expected to drive copper demand in India in the coming years, HCL said. HCL — under the administrative control of India's ministry of mines — is the country's only fully integrated copper producer, involved in mining, ore processing, smelting and refining. By Deepika Singh Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Beijing, 12 June (Argus) — The Philippines has removed a provision in its mineral bill that had banned the export of unprocessed nickel ore. The country's Senate on 3 February had passed a bill to ban unprocessed nickel ore exports by 2030 to promote domestic processing -- mirroring a similar policy in Indonesia. But this was not welcomed by the local industry. The decision to remove the ban was supported by the Philippine Nickel Industry Association (PNIA). "This is a prudent and forward-looking step that protects jobs, upholds investor confidence, and reflects a more realistic understanding of the challenges surrounding domestic mineral processing," PNIA said in a statement. The Philippines exported 44.97mn wet metric tonnes of nickel ore in 2024, up by 10.1pc year on year. Of this, 35.12mn wmt was exported to China, down by 12pc on the year. Indonesia received 9.55mn wmt, up from 215,000wmt it received in 2023. Rising demand and a lower approved mining quota, or RKAB, in Indonesia boosted the country's ore imports from the Philippines. While in China, weak demand resulted in the decline of imports. The Philippines' nickel intermediates output fell by 7.8pc on the year to 414,000t of nickel metal equivalent in 2024. Most of this production came from the Coral Bay and Taganito high-pressure acid leach plants owned by Nickel Asia, according to data from the International Nickel Study Group. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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