Key transactions & industry news Weekly Update 08/08/2025

Metals & Mining

UK regulator clears Boeing takeover of Spirit AeroSystems. The UK’s CMA has approved Boeing’s $4.7B all-stock acquisition of Spirit AeroSystems, avoiding a phase 2 review. Closing in Q4 2025, pending U.S. and EU approvals, the deal aims to streamline Boeing’s operations and improve quality control. Spirit will also sell its Malaysia facility to CTRM for $95.3M, while Boeing acquires select Spirit operations in Belfast from Airbus.

Abu Dhabi, Dubai explore multibillion-dollar IPO of aluminum firm EGA. EGA is assessing the feasibility of an IPO, potentially reviving plans for a deal that could rank among the largest-ever share sales in the Middle East.

U.S. gold futures hit all-time high on tariff uncertainty over bullion imports. U.S. gold futures surged to a record after a report that Washington has imposed tariffs on imports of 1-kg bullion bars, widening the spread between New York futures and spot prices. December U.S. gold futures were up 0.7% to $3,476.70, after hitting a record $3,534.10. Spot gold was down 0.3% at $3,386.63 per ounce.

Ball Corporation launches $750M senior notes offering to strengthen liquidity. Ball Corporation, a global aluminum packaging firm headquartered in Colorado, stated a public offering of $750M aggregate principal amount of Senior Notes due 2033. It’s currently trading at $52.55.

Century Aluminum to restart Mt. Holly plant, restoring full production by next June. Century Aluminum announced plans to restart more than 50K metric tons of idled production at its Mt. Holly, SC, smelter and to invest ~$50M in an effort to boost the U.S. domestic aluminum production by nearly 10%. The restart will enable the plant, currently operating at 75% capacity, to achieve full production by June 30, 2026, a level not seen since 2015.

China steel exports rise in July despite protectionist backlash. China’s steel exports climbed in July, continuing a record-breaking run despite growing trade barriers being thrown up by countries concerned about a flood of Chinese exports. Steel exports in July rose 1.7% from June to 9.84M metric tons, taking total exports this year to 67.98M tons.

Rio Tinto invests $180M in Norman Creek to extend Amrun mine life and replace aging bauxite mines. Rio Tinto has approved a $180M investment for the development of the Norman Creek project at its Amrun bauxite mine on Queensland’s Cape York Peninsula. The initiative aims to access approximately 466M tonnes of high-grade bauxite representing nearly half of Amrun’s 978M tonne declared reserves with an average alumina content of 54.4%.

Transportation & Logistics

UP-NS merger puts intermodal giants on the wrong side of the map. The proposed Union Pacific-Norfolk Southern merger leaves three major intermodal customers — J.B. Hunt, Schneider, and STG Logistics — in the awkward position of having their tents pitched in the wrong railroad camps. J.B. Hunt, the largest domestic truckload intermodal operator, uses BNSF Railway in the west and relies primarily on Norfolk Southern in the east. Containers for third-ranked Schneider and number four STG Logistics ride Union Pacific and CSX trains.

U.S. Postal Service loss widens to $3.1B as inflation bites. The U.S. Postal Service’s adjusted operating loss widened by $522M to $1.6B for the fiscal year third quarter as expenses increased nearly 3% and first-class mail revenue fell $86M on a 5.4% decline in volume.

Grain, automotive keep U.S. rail traffic ahead of 2024. According to Association of American Railroads statistics, rail traffic for the week ending Aug. 2, 2025, was 513,529 carloads and intermodal units, a 2.9% increase over the same week a year earlier. That figure included 233,805 carloads, up 6.4%, and 279,724 containers and trailers, up 0.2%. While all categories except petroleum saw gains, the only double-digit increases were grain, 25.7%, and motor vehicles and parts, 10.2%.

Container rates unmoved by latest tariff deadline. Trans-Pacific container rates to the West Coast have maintained stability for three consecutive weeks, remaining at an average of $2,300 per forty-foot equivalent unit (FEU). Daily rates have seen a slight decrease of approximately $100 since August 1. In contrast, the East Coast experienced a 4% drop to $3,950 per FEU, marking the sixth week in a row of declining rates. Meanwhile, trans-Atlantic rates have also held steady at around $1,900 per FEU, indicating persistent stability in that corridor.

Panama ports sales challenge could turn into Trump win. Panama’s comptroller general has asked the country’s supreme court to review CK Hutchison’s contract to operate the ports of Balboa and Cristobal. Hutchison of Hong Kong operates the maritime centers through its Panama Ports subsidiary as part of an agreement signed in 1997, and extended in 2023 for another 25 years.

Energy

Argentina’s YPF to invest $400M in sustainable jet fuel venture. Argentine state oil firm YPF will invest around $400M as part of a new joint venture to produce and sell sustainable aviation fuel (SAF). The new venture, to be called Santa Fe Bio, will be run in tandem with Essential Energy and operate out of YPF’s San Lorenzo refinery.

Norway prepares first major oil, gas licensing round in years. Norway’s energy minister said he is preparing to launch a new oil and gas licensing round on the Norwegian continental shelf, the first offer of new drilling permits in unexplored frontier regions since 2021.

Oil set for steepest weekly losses since June. Oil prices steadied and were poised for the steepest weekly losses since late June on a tariff-hit economic outlook and a potential meeting between U.S. President Donald Trump and Russian counterpart Vladimir Putin. Brent crude futures were up 14 cents, or 0.2%, at $66.57 a barrel by 1316 GMT. U.S. West Texas Intermediate crude futures rose 4 cents, or 0.1%, to $63.92.

EPA eliminates $7B rooftop solar grant program. The U.S. Environmental Protection Agency announced that it will eliminate a $7B grant program designed to help low-income households install solar panels on their homes.

NASA aims to beat China and Russia in race to build a nuclear reactor on the moon. The U.S. should deploy a small nuclear power plant to the surface of the moon before China and Russia are able to do so, the interim head of NASA has told the space agency’s staff. NASA should be ready to launch a reactor to the lunar surface by the first quarter of fiscal year 2030.

Others

Trump picks Stephen Miran to fill open spot on Fed Board. U.S. President Donald Trump said he will nominate Council of Economic Advisers Chairman Stephen Miran to serve out the final few months of a newly vacant seat at the Federal Reserve while the White House seeks a permanent addition to the central bank’s governing board and continues its search for a new Fed chair. Miran, who has called for a complete overhaul of the Fed’s governance, will take over from Fed Governor Adriana Kugler.

Auto industry takes $12B Hit From Trade War. President Trump’s tariff war has inflicted almost $12B of losses on global automakers, the biggest hit they have faced since the pandemic. Beyond the continuing cost of tariffs, automakers in the U.S., Japan, South Korea and Europe face years of retooling and supply-chain tweaks to adjust to the new realities. This comes after they spent heavily to reshape factories for electric vehicles.

Trump imposes extra 25% tariff on Indian goods, ties hit new low. U.S. President Donald Trump imposed an additional 25% tariff on Indian goods, citing New Delhi’s continued imports of Russian oil in a move that sharply escalated tensions between the two nations after trade talks reached a deadlock. The new import tax, effective 21 days after August 7, will raise duties on some Indian exports to as high as 50% – among the highest levied on any U.S. trading partner.