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Commodities News

Up-to-date news on raw materials


FT Mercati provides subscribers with a dedicated commodities news bulletin to stay up-to-date.
Here is a selection of the latest news:

11/10/2025

FIRST TIN RECEIVES LETTER OF INTEREST FROM EXIM

UK-based tin developer First Tin has received a non-binding letter of interest from the Export-Import Bank of the United States (EXIM) outlining potential financing of up to US$120 million for the development of its Taronga project in New South Wales.
The letter indicates EXIM’s capacity to consider up to US$120 million in financing for a maximum repayment term of 12 years for the development of Taronga, linked to the supply of tin concentrate to the United States.
The United States is the world’s largest consumer of tin (excluding China) , but currently has no primary tin production capacity. Leading secondary producer Nathan Trotter, who previously signed a letter of intent with Rwandan tin miner Trinity Metals, is constructing a new smelter in Virginia to produce tin from primary and secondary feeds with financial support from the Department of Defense.
First Tin CEO Bill Scotting said the letter “is a strong endorsement of Taronga’s strategic importance and the growing recognition of tin as a critical mineral, essential for modern technology.”
“With a completed Definitive Feasibility Study and permitting well advanced, Taronga is ready to become a significant, responsible supplier of this critical mineral”, Scotting continued.
The Taronga resource currently stands at 133 Mt at 0.10% Sn for 138,300 tonnes of tin, and an ore reserve of 40 Mt at 0.13% Sn for 52,000 tonnes of tin.
The company’s 2024 DFS highlighted a pre-production capex of A$176 million (approximately US$114 million), and life of mine AISC of US$19,345 per tonne of tin sold.
Taronga may also qualify for special consideration under EXIM’s China and Transformational Exports Program (CTEP), which aims to strengthen US supply chain resilience in critical minerals.
EXIM’s offer is subject to standard due diligence prior to it making any final commitment.

11/10/2025

TINPLATE INDUSTRY UNITES ON SUSTAINABILITY AND INNOVATION

Tinplate remains a significant tin use, accounting for 11% of global tin demand in 2024, the vast majority used in the packaging industry.
Marketing discussions emphasised the importance of engaging new consumers, particularly younger generations, by promoting the recyclability, modern image, and adaptability of metal packaging.
Technological developments were another key theme, with advances in electrolytic tinning lines drawing attention. Methane sulfonic acid electrolytes are gaining interest for their lower environmental impact, cost efficiency, and process flexibility.
At the same time, chrome-free passivation systems, such as EPZ, are advancing in response to REACH regulations, which will restrict the use of Cr(VI) after 2027.
Regulation featured prominently throughout the conference. ITA’s Tin Code and work on responsible sourcing were discussed alongside tightening European rules. Restrictions on bisphenol-A in food contact materials and proposed limits on PFAS under the Packaging and Packaging Waste Regulation are expected to reshape industry practice.
Decarbonisation was also in focus, with the transition from blast furnaces to electric arc furnaces presented as a pathway to lower emissions, although high costs remain a barrier to widespread adoption.
The conference concluded with two lively panel discussions featuring suppliers and can makers, where the consensus was clear: collaboration across the entire value chain will be essential to strengthen competitiveness, reduce environmental impact, and secure tinplate’s role as a reliable and sustainable packaging material.

11/10/2025

PRELIMINARY PRICE

OPECNA, the news agency of OPEC, announced the OPEC Basket preliminary price
07 november = $ 65.83 /b (up from previous daily value)
(The OPEC Reference Basket (ORB) introduced on 16 June 2005, is currently made up of the following: Algeria, Angola, Congo, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia , UAE and Venezuela.

11/10/2025

INDIA - HINDUSTAN ZINC POSTS QUARTERLY PROFIT RISE ON STRONG ZINC PRICES

India's Hindustan Zinc opens new tab reported a profit nearly 14% rise in Q2 of financial year , as zinc prices climbed steadily, amid resilient demand.
India's top refined zinc producer said consolidated net profit rose to 26.49 billion rupees (about $301 million) in the quarter ended September 30 from 23.27 billion rupees a year ago.
Also, Hindustan Zinc is the world's third-largest silver producer and the largest integrated silver player in India, which is the world's biggest consumer of silver.
Meanwhile, zinc prices are could have risen close to 2% in the period, as per analysts' estimates.
Local demand for zinc, which is commonly used to coat steel to prevent corrosion, remained strong as manufacturing activity in the country advanced.
Hindustan Zinc, which has cornered nearly three-fourths of the domestic zinc market, said revenue from its zinc operations grew about 2% and that from silver operations rose 10% during the quarter.
Total revenue from operations rose 3.6% to 85.49 billion rupees.
($1 = 87.9300 Indian rupees)

11/10/2025

CHINA - CLOSE TO THE PRODUCTION CEILING FOR ALUMINIUM

The reference price of Aluminium, used in the transport, construction and packaging sectors, has increased by 14 % since the beginning of the year.
This is partly due to supply concerns, as production in China (the world's largest producer) is now close to the government-imposed limit of 45 million tonnes per year.
"On the cost and supply side, several factors should support Aluminium prices in the medium to long term," said Sudakshina Unnikrishnan of Standard Chartered.
"Demand remains positive, particularly from the renewable energy sector."
Aluminium's LME cash price is expected to average $2,679/t in 2026, up 3 per cent from the previous forecast.
Analysts reduced the 2026 market surplus estimate to 250,000t (from 281,500t in the previous survey).

11/10/2025

RIO TINTO MAY CLOSE SMELTER TOMAGO AFTER 2028

Rio Tinto warned that its Tomago plant in Australia, which produces about 590 kt/year (40% of domestic production), could close after 2028 in the absence of competitive electricity tariffs. Rising energy costs could make operations unsustainable once the contract with AGL Energy expires.
A consultation with employees is ongoing until 21 November.