Stable Prices at Northern Ports for Australian, South African, Gabon, and Brazilian Ores

According to Red Metal Resources on September 3, the Farellon project, part of the company’s Carrizal copper-gold-cobalt property near Vallenar, Chile, has completed its first delivery of copper sulphide ore, marking the project’s transition from the development stage to actual ore sales and small-scale production. Project lessee and operator Minera KMT transported the first batch of ore to the Vallenar processing facility operated by Chile’s state-owned mining company ENAMI on August 20 and 21. The milestone came only about three months after the parties signed a mining agreement in May, around four months ahead of the original seven-month development schedule. Farellon is an important part of the Carrizal copper-gold-cobalt property. The first ore delivery is expected to generate royalty revenue for Red Metal and lay the groundwork for further expansion of mining and processing activities. The company has not yet disclosed the specific cobalt grade, cobalt output or recovery rate for the delivered ore. However, the project’s move into actual production and sales represents a new development in Chile’s cobalt resource pipeline outside Africa.

This week, the industry chain continued to consolidate on a weak note, with clear divergence between supply and demand. On the upstream side, raw material suppliers remained firm in holding prices, while downstream buyers continued to push for lower prices, widening the psychological price spread between buyers and sellers and making spot transactions difficult to advance. Some salt products came under pressure due to lower raw material costs, low-price selling by traders, and weak demand, with a few varieties already pulling back slightly. The price center of powder materials continued to shift lower, with weakening cost support, and the market remained in a bottoming phase. Midstream materials showed divergent performance: some precursors were dragged down by weaker nickel salts, with order coefficients under pressure and domestic production schedules subdued, though overseas high-nickel orders remained relatively stable. Cathode materials were affected by raw material price fluctuations and downward revisions in end-use orders, prompting battery cell manufacturers to restock cautiously, with domestic production schedules in September expected to decline. On the consumption side, the September-October peak season effect has yet to materialize clearly, with end-use demand recovery in mobile phones and other terminals remaining limited, and the industry chain overall dominated by just-in-time procurement and destocking. In the short term, the market lacks clear upward drivers, and prices are likely to continue consolidating on a subdued note. Going forward, the focus will be on the strength of September restocking, improvements in end-use orders, and changes in upstream pricing strategies.

A Autoridade Central de Eletricidade da Índia publicou minutas de emendas às suas normas técnicas exigindo que projetos solares montados no solo e eólicos onshore comissionados após 1º de julho de 2027 instalem armazenamento de energia colocalizado igual a pelo menos 10% da capacidade instalada, com duração mínima de duas horas, aumentando para quatro horas para projetos comissionados de julho de 2029 a junho de 2031. A minuta também determina que pelo menos 15% dos inversores em usinas renováveis tenham controle formador de rede, enquanto todos os sistemas de conversão de energia do armazenamento em baterias devem ser formadores de rede, com comentários das partes interessadas abertos até 4 de outubro. Mais de 8.133 GWh de energia solar foram cortados no primeiro trimestre do ano fiscal, pois a rede não conseguiu absorver o excedente diurno, e as novas regras visam enfrentar as crescentes preocupações com cortes e estabilidade da rede.