The Metalnomist
Independent metals/mining analyst covering offtakes (tungsten), new bauxite projects, DRC copper/cobalt supply and geopolitics; links to detailed writeups.
Indonesia's Weda Bay Achieves On‑Spec MHP Production
BSE produced on-spec MHP at Weda Bay, marking a key HPAL commissioning step in Indonesia’s nickel battery chain. https://www.metalnomist.com/2026/04/bse-on-spec-mhp-output-marks-new-step.html
Liontown Lithium Sales Surge 38% on Kathleen Ramp
Liontown lithium sales rose 38pc in 4Q 2025 as Kathleen Valley ramped up and auction pricing added upside. https://www.metalnomist.com/2026/04/liontown-lithium-sales-jump-as-kathleen.html
Caterpillar Forecasts Robust 2026 Demand From Backlog, Energy, Mining
Caterpillar sees strong 2026 demand backed by a record order backlog, energy growth, and firmer mining equipment demand. https://www.metalnomist.com/2026/04/caterpillar-2026-demand-outlook-turns.html
Trump's 25% Metal Tariff Reshapes Supply
Trump’s new metal tariff policy applies a 25pc flat rate on many derivative imports and reshapes downstream costs. https://www.metalnomist.com/2026/04/trump-metal-tariff-policy-reshapes.html
Copper Turns Macro Hedge, Volatility Outpaces Fundamentals
Copper is increasingly trading like a macro hedge, raising volatility far beyond what near-term fundamentals imply. https://www.metalnomist.com/2026/04/copper-as-macro-hedge-is-rewriting.html
Glencore's 2025 Copper, Nickel Output Drops Amid Disruptions
Glencore’s 2025 copper and nickel output fell as lower grades, mine sequencing, and operational disruptions hit key assets. https://www.metalnomist.com/2026/04/glencore-copper-and-nickel-output.html
China Launches First Provincial Critical Metals Group in Guangxi
China formed its first province-level critical metals group in Guangxi to strengthen control over strategic materials. https://www.metalnomist.com/2026/04/china-critical-metals-group-signals.html
Tasmania Takes Liberty Bell Bay Ore After GFG Default
Tasmania seized control of Liberty Bell Bay ore after GFG defaulted on a restart loan. https://www.metalnomist.com/2026/04/tasmania-takes-control-of-liberty-bell.html
Iluka Beats Output Target, Yet Prices Remain Weak
Iluka heavy minerals output beat 2025 guidance, but weak prices still cloud the mineral sands outlook. https://www.metalnomist.com/2026/04/iluka-heavy-minerals-output-beats-2025.html
Bolivia Facility Bolsters US Antimony Flake Supply
US Antimony’s Bolivia processing facility could strengthen antimony flake supply and support new western hydrometallurgical capacity. https://www.metalnomist.com/2026/04/us-antimony-bolivia-processing-facility.html
RTX Engine Deliveries Surge in 2026 Amid Airbus Ramp‑Up
RTX engine deliveries are set to rise in 2026 as Airbus ramp-up shifts output toward new aircraft builds. https://www.metalnomist.com/2026/04/rtx-engine-deliveries-rise-as-airbus.html
European Lithium Adds Titanium Potential with Velta Acquisition
European Lithium’s Velta acquisition expands its critical minerals portfolio and adds new titanium production potential. https://www.metalnomist.com/2026/03/european-lithium-velta-acquisition.html
Tight Indian Spot Supply Drives Ferro‑Chrome Auction Prices Up
Facor’s ferro-chrome auction drew sharply higher bids as tight Indian spot supply pushed prices above base levels. https://www.metalnomist.com/2026/03/indian-ferro-chrome-auction-prices-rise.html
EU-India FTA Boosts Indian Aluminium, CBAM Still Caps Gains
The EU-India FTA may help Indian aluminium exports, but CBAM still limits the real upside. https://www.metalnomist.com/2026/03/eu-india-fta-could-improve-indian.html
Molymet, Maritime House Launch Rhenium Recycling JV for Aerospace
Molymet and Maritime House plan a rhenium recycling JV to support aerospace demand and APR supply. https://www.metalnomist.com/2026/03/molymet-maritime-house-rhenium.html
Boeing Ramps 737 MAX; Supplier Discipline Drives Recovery
Boeing’s 737 MAX output ramp is accelerating, but supplier discipline now defines the next phase of recovery. https://www.metalnomist.com/2026/03/boeing-737-max-output-ramp-signals-new.html
Al Taweelah Outage Threatens UAE Aluminium, Bauxite, Freight Markets
Al Taweelah smelter damage raises new risks for UAE aluminium supply, bauxite flows, and Gulf freight markets. https://www.metalnomist.com/2026/03/al-taweelah-smelter-damage-raises-new.html
EU‑India Deal Slashes Tariffs, CBAM Remains Intact
The EU-India trade deal cuts tariffs, but CBAM stays unchanged and keeps carbon compliance in focus. https://www.metalnomist.com/2026/03/eu-india-fta-and-cbam-remain-on.html
Belfast Grant Boosts UK Rare‑Earth Recycling and Supply Resilience
The Belfast magnet recycling grant supports UK rare earth processing and strengthens local supply chain resilience. https://www.metalnomist.com/2026/03/belfast-magnet-recycling-grant.html
SDI Accelerates 2026 Ramp-Up at Columbus Aluminum Mill
SDI expects a faster 2026 ramp-up at its Columbus aluminum mill as automotive product capability nears completion. https://www.metalnomist.com/2026/03/sdi-aluminum-mill-ramp-up-accelerates.html
New Oklahoma Aluminum Smelter Set to Revamp U.S. Supply
Century and EGA plan a major Oklahoma aluminum smelter that could transform US primary metal supply. https://www.metalnomist.com/2026/03/century-ega-oklahoma-aluminum-plant.html
US Funding Accelerates Domestic Heavy‑Rare‑Earth Magnet Supply Chain
USA Rare Earth funding could speed up a US mine-to-magnet supply chain for heavy rare earths and domestic magnets. https://www.metalnomist.com/2026/03/usa-rare-earth-funding-could-accelerate.html
Indonesia's 2026 Nickel Quotas Tighten Feedstock, Not Oversupply
Indonesia nickel ore quotas may tighten feedstock supply in 2026 without solving oversupply in downstream nickel products. https://www.metalnomist.com/2026/03/indonesia-nickel-ore-quotas-risk.html
Bosai's Indonesia Smelter Signals China's Overseas Capacity Surge
Bosai plans an Indonesia aluminium smelting project in East Java, highlighting China’s accelerating overseas capacity strategy. https://www.metalnomist.com/2026/03/bosai-indonesia-aluminium-smelting.html
China Opens Nickel, Lithium Futures to Foreign Investors
China will open nickel and lithium futures to foreign investors, aiming to strengthen global metals pricing power. https://www.metalnomist.com/2026/03/china-nickel-and-lithium-futures.html
GE Forecasts Boosted 2026 LEAP Deliveries Amid Recovery
GE expects higher LEAP engine deliveries in 2026 as supply chain recovery and strong MRO demand support growth. https://www.metalnomist.com/2026/03/ge-leap-engine-deliveries-set-to-rise.html
Trump Postpones Iran Strike; Hormuz Tension Rattles Oil Markets
Trump delays Iran attacks to 6 April, but Strait of Hormuz risk keeps oil and supply chains on edge. https://www.metalnomist.com/2026/03/trump-delays-iran-attacks-as-strait-of.html
Fatal Accident Halts Hengjaya Mine, Threatens Indonesia Nickel Supply
Nickel Industries suspended Hengjaya mine operations after a fatal incident, raising new risks for Indonesia nickel supply. https://www.metalnomist.com/2026/03/nickel-industries-hengjaya-mine.html
ERG Commits $1 Bn to Boost Kazakhstan Strategic Metals
ERG will invest $1bn in Kazakhstan to expand strategic metals, gallium, HBI, and core metallurgy assets. https://www.metalnomist.com/2026/03/erg-kazakh-mining-investment-signals.html
Tight Copper, Aluminium Supply Set to Boost Prices Through 2026
ING expects tight copper and aluminium supply to support prices into 2026 amid tariffs, weak mine output, and power constraints. https://www.metalnomist.com/2026/03/tight-copper-and-aluminium-supply-keeps.html
SLN Secures Funding, Yet New Caledonia Nickel Remains Risky
SLN stabilised with fresh funding, but New Caledonia nickel supply still faces deep structural risks. https://www.metalnomist.com/2026/03/new-caledonia-nickel-supply-gains-time.html
Weak Refining Economics Heighten Strategic Pressure on US Smelters
US copper smelters face rising strategic pressure as weak refining economics reshape the copper supply chain. https://www.metalnomist.com/2026/03/us-copper-smelters-face-strategic.html
Trump‑Iran Talks Spark Hormuz Oil Fears, Lift Prices
Trump Iran talks revived Strait of Hormuz oil flow fears and pushed global energy prices higher. https://www.metalnomist.com/2026/03/trump-iran-talks-put-strait-of-hormuz.html
Jogmec Invests C$6M for 10% Stake in Manitoba Copper Venture
Jogmec joins Manitoba copper exploration with Hudbay and Marubeni, funding C$6mn for a 10% option. https://www.metalnomist.com/2026/03/jogmec-manitoba-copper-exploration.html
Teck Reaches Upper 2025 Copper Guidance Despite Tailings Limits
Teck hits the top end of 2025 copper guidance as Quebrada Blanca tailings constraints remain. https://www.metalnomist.com/2026/03/teck-hits-top-end-2025-copper-guidance.html
Greenland Resources Secures Long-Term Mo Supply for GMH
Greenland Resources to supply Mo to GMH Group under a long-term MOU linked to the Malmbjerg project. https://www.metalnomist.com/2026/03/greenland-resources-to-supply-mo-to-gmh.html
USA Rare Earth Launches French REE Plant with Caremag Partnership
USA Rare Earth to build REE plant in France, co-located with Caremag oxide output and backed by C31V credits. https://www.metalnomist.com/2026/03/usa-rare-earth-to-build-ree-plant-in.html
Germany Launches Four-Year, Income‑targeted BEV Subsidy Plan
Germany sets four-year BEV support for 2026–29 with income-based subsidies, plug-in limits, and a €3bn cap. https://www.metalnomist.com/2026/03/germany-sets-four-year-bev-support-for.html
JDC Boosts Jinsha Stake, Secures 2029 Molybdenum Plant
China’s JDC raises its Jinsha stake, backing Shapinggou’s 2029 start and future molybdenum processing. https://www.metalnomist.com/2026/03/chinas-jdc-raises-stake-in-major.html
Explosion at Baogang Sparks Rare Earth Supply Concerns
Explosion hits Chinese rare earth producer Baogang, raising uncertainty over safety checks and rare earth supply. https://www.metalnomist.com/2026/03/explosion-hits-chinese-rare-earth.html
Geopolitics Stall Greenland
Greenland resources face extraction hurdles as geopolitics rises, while rare earth and molybdenum projects seek financing. https://www.metalnomist.com/2026/03/greenland-resources-face-extraction.html
Copper Prices Slip as Inventories Surge, Contango Widens
Copper eases as LME and SHFE inventories surge, widening contango and cooling near-term demand. https://www.metalnomist.com/2026/03/copper-prices-soften-as-inventories.html
North Sea Dated Surges Past $112 Amid Supply Shock
North Sea Dated jumps above $112/bl as Europe absorbs delayed supply shocks from the Mideast war. https://www.metalnomist.com/2026/03/north-sea-dated-benchmark-hits-highest.html
Critical Metals Secures Saudi Rare Earth Plant with Defense Backing
Critical Metals plans a Saudi rare earth facility backed by Tanbreez offtake and US defense demand. https://www.metalnomist.com/2026/03/critical-metals-saudi-rare-earth.html
Worthington Steel's $1.3B Deal Makes No.2 US Metal Center
Worthington Steel to buy Kloeckner for $1.3bn, creating the No. 2 North American metal service center. https://www.metalnomist.com/2026/03/worthington-steel-to-buy-kloeckner-for.html
Vale Gains 2026 Indonesian Nickel Permit, Restarts Sulawesi Operations
Vale secures 2026 RKAB approval in Indonesia and moves to restart nickel mining and construction in Sulawesi. https://www.metalnomist.com/2026/03/vale-secures-2026-nickel-mining-quotas.html
Tesla Launches Texas Lithium Refinery for Battery‑grade Hydroxide
Tesla begins operations at its Texas lithium refinery near Corpus Christi to produce battery-grade lithium hydroxide. https://www.metalnomist.com/2026/03/tesla-texas-lithium-refinery-starts.html
Energy Fuels Expands Utah Mill for Low-Cost NdPr
Energy Fuels targets low-cost NdPr at Utah’s White Mesa Mill with a 6,000t/yr expansion plan. https://www.metalnomist.com/2026/03/utah-low-cost-ree-producer-plans-could.html
Novelis Adds Bag Houses for 85k‑ton Recycling Boost
Novelis commissions bag houses at UK plant to support an 85,000 t/yr recycling expansion before UK DRS. https://www.metalnomist.com/2026/03/novelis-commissions-bag-houses-at-uk.html
US and Chile Launch Talks to Secure Critical Minerals
US-Chile critical minerals talks open to secure copper, lithium, and rare earth supply chains. https://www.metalnomist.com/2026/03/us-chile-critical-minerals-talks-kick.html