China’s 2025 steel demand to fall 1.5% on year, state research institute says
China's steel consumption in 2024 and 2025 is forecast at 863 million metric tons and 850 million tons, respectively.
Australian lithium miner IGO on Monday said it could not determine when it would pay an annual dividend from its operations with China’s Tianqi Lithium, reflecting the present hardship in the sector while the Kwinana plant continues to ramp up.
Tianqi Lithium Energy Australia (TLEA) is a joint venture between IGO and Tianqi Lithium where the Australian producer holds a 49% stake and the rest is owned by the Chinese firm.
IGO held a planned maintenance shutdown in October at Kwinana. The plant will fully realize the improved performance at its lithium hydroxide plant from March, IGO said.
TLEA has experienced a build in lithium hydroxide inventory at Kwinana over recent months, which is expected to continue in the short to medium term, the battery metal producer said, at a time when the price of the metal used for electric vehicles keeps declining amid a muted demand.
IGO could not anticipate when it would begin paying dividends from the operation again, but said its Greenbushes lithium mine, Australia’s largest, continues to run with solid cash flows.
In fiscal 2024, IGO reaped A$761 million ($476.01 million) in dividends from the operations located south of Perth, down from A$1.18 billion received in 2023.
($1 = 1.5987 Australian dollars)
(By Sneha Kumar; Editing by Diane Craft)
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