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Nov 26, 2024 | 
fastmarkets.com | Nina Y. Hu
Chinese makers have been following this practise for years. But since his election victory in November, Trump has threatened to increase tariffs on automotive imports from Mexico, trade sources told Fastmarkets. In the first three quarters of 2024, Mexico imported 353,416 units of fully manufactured vehicles from China, a volume only exceeded by Russia. The country was also the second-largest importer of Chinese vehicles last year.
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Nov 8, 2024 | 
fastmarkets.com | Nina Y. Hu
The major concerns are around whether Trump will repeal the US Inflation Reduction Act (IRA), which was implemented to support the development of the EV and battery sectors within the US and instead deliver the 60% tariff hikes he has previously promised to impose on Chinese’ imports, sources said.
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Nov 1, 2024 | 
fastmarkets.com | Nina Y. Hu
China’s lithium battery shipments totaled 786 gigawatt hours (GWh) in the first three quarters of 2024, up from 605 GWh in the same period in 2023, according to the latest data from Shenzen-based research institute GGII. The capacity of shipped ESS batteries amounted to 216 GWh in the first three quarters of the year, up by 70% compared with the 127 GWh shipped in the same period in 2023.
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Oct 23, 2024 | 
fastmarkets.com | Nina Y. Hu
Fastmarkets proposes to discontinue seven of its magnesia price assessments. The proposal follows preliminary discussions with the market, which suggests a lack of liquidity for the commodities. Specifically, Fastmarkets is proposing to discontinue: MB-MAG-0001 Magnesia, dead burned, 94-95% MgO, lump, fob China, $/tonneQuality: Dead-burned 94-95% MgO lump, bulkQuantity: Min 1,000 tonnesLocation: FOB ChinaTiming: SpotUnit: $/tonnePublication: Monthly.
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Oct 17, 2024 | 
fastmarkets.com | Nina Y. Hu
General Motors (GM) plans to reduce the price of electric vehicles (EVs) in the United States by expanding the range of battery chemistries it uses to include lithium-iron phosphate (LFP), its vice president of batteries, Kurt Kelty, told an annual investor’s panel on Tuesday October 8. The move will reduce GM’s reliance on nickel cobalt manganese (NCM) batteries and the use of LFP battery technology will reduce the cost of an EV by “as much as $6,000”, Kelty said.
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Aug 28, 2024 | 
fastmarkets.com | Nina Y. Hu
The move to monthly publication will allow the assessments to better reflect the liquidity changes in the market. The proposed change applies to the following price assessments:MB-MAG-0001 Magnesia, dead burned, 94-95% MgO, lump, fob China, $/tonneQuality: Dead-burned 94-95% MgO lump, bulkQuantity: Minimum 1,000 tonnesLocation: fob ChinaTiming: SpotUnit: $/tonnePublication: Monthly.
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Jan 23, 2024 | 
fastmarkets.com | Andrea Hotter |Nina Y. Hu |Eric Howald |Peter Malliris
In a recent interview with Fastmarkets, Eivind Kallevik, the executive vice president of Hydro Aluminium Metal, said flexibility within Norsk Hydro’s production portfolio at the cast house was central to the company’s ability to adapt to periods of low demand. “Flexibility for me is important so we can shift products from one segment to another, because there will be a different pace between different cycles.
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Jan 23, 2024 | 
fastmarkets.com | Nina Y. Hu |Zihao Li |Sybil Pan |Lewis Charlesworth
China’s Great Wall Motor has signed a Memorandum of Understanding with the government of Thailand, gaining approval for its “EV 3.5” subsidy scheme, aimed at incentivizing the production and purchasing of (EVs) within Thailand, the company announced on Saturday January 20. Other Chinese automakers benefiting from the subsidy include Changan Automobile and SAIC Motor.
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Jan 15, 2024 | 
fastmarkets.com | Lee Allen |Yasemin Sim Esmen |Tianran Zhao |Nina Y. Hu
Major carmaker Mercedes-Benz has deepened its plans to expand operations in Europe’s lithium-ion battery recycling space with the order of a new hydrometallurgical plant to recover battery metals from black mass. Mercedes signed the purchase order with Primobius, a battery recycling joint venture between Neometals Ltd and SMS group, which uses a patented lithium-ion battery recycling process, Neometals said in a press release on Wednesday January 10.
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Jan 11, 2024 | 
fastmarkets.com | Yasemin Sim Esmen |Tianran Zhao |Nina Y. Hu |Yiwen Ju
The company’s pilot black mass recycling plant in Hamburg, Germany, operational since March 2022, has developed a proprietary hydrometallurgical process that has successfully extracted battery raw materials from black mass. As a result, Aurubis is now working on building a demonstration plant, Harings said. “Electric vehicle (EV) batteries last longer than previously thought,” Harings said.
