News

[SMM Tungsten Express] As of March 26, European tungsten prices edged higher amid tight supply. SMM data shows APT CIF Rotterdam at $2,600-3,000/mtu, averaging $2,800/mtu, up $150 from last week. Ferrotungsten Rotterdam warehouse at $310-330/kg W, averaging $320/kg W, up $5 from last week. Transactions remained limited while feedstock tightness continues to support modest upward price movement.

[SMM Magnesium Weekly Review: Magnesium Market Held Up Well, With Cost Support and a Tug-of-War Between Sellers and Buyers Continuing] This week, the overall magnesium industry chain held up well, with prices of all products generally raised. The raw material dolomite market remained stable, with ample supply and steady demand. Magnesium ingot prices consolidated at highs. At the beginning of the week, supported by rising energy costs such as ferrosilicon and coke and tight spot availability, prices jumped by 300 yuan/mt. Subsequently, downstream fear of high prices emerged, transactions failed to keep pace, and prices consolidated at highs. In foreign trade, the center of magnesium ingot FOB quotes moved up to $2,440-2,470/mt. Wait-and-see sentiment outside China remained strong, but influenced by bullish expectations in China, forward orders were gradually locked in. Magnesium powder prices remained firm, with strong cost support. Export data increased YoY, while domestic trade was mainly driven by just-in-time procurement. The benchmark price of magnesium alloy held up well, but the release of new capacity led to increased supply, processing fees stayed in the doldrums, and the market showed a pattern of strong supply and weak demand. Overall, cost support remained the core driver behind magnesium prices fluctuating at highs, while downstream acceptance of high prices was limited, and the market may continue this tug-of-war in the short term.

SMM, March 26: SMM learned that Shandong Humon has launched an open tender for its 4N selenium and high-purity selenium by-products starting today. The tender includes 4,000 kilograms of high-purity selenium by-products and 1,000 kilograms of 4N selenium (actual shipment weight shall prevail). According to official information, the materials are packaged in iron drums. The delivery method is buyer pickup, with freight borne by the buyer. Transport must comply with national regulations, using hazardous chemical vehicles with full qualifications. The buyer must collect the goods by April 20, 2026, at the delivery location of Shandong Humon Smelting Co., Ltd. The sales contact is Wang Peng, phone: 17616212861.

SMM, March 26: SMM learned that Shandong Humon will launch an open tender for its high-purity tellurium by-products starting March 26. According to official information, the tender involves 2,000 kilograms, packaged in iron drums. The delivery method is buyer pickup, with freight borne by the buyer. The buyer must collect the goods by April 20, 2026. The delivery location is Shandong Humon Smelting Co., Ltd. (No. 11 Jinzheng Street, Shuidao Town, Muping District, Yantai City, Shandong Province). The sales contact is Wang Peng, phone: 17616212861.

[Tungsten Industry Long-Term Contract Information] SMM, March 25: A tungsten enterprise in Guangdong released its long-term contract prices for the second half of March. Among them, the price of wolframite concentrates with WO3 content above 55% was 1.005 million yuan/standard tonne (65%WO3 basis), and the price of scheelite concentrates with WO3 content above 55% was 1.004 million yuan/standard tonne (65%WO3 basis). Tungsten concentrate long-term contract prices were raised by 50,000 yuan/standard tonne MoM. The APT long-term contract price was 1.48 million yuan/mt, raised by 70,000 yuan/mt MoM. Note: The above prices include 13% VAT.

[Tungsten Ore Tender Update] SMM News on March 25: Due to specific factors, a tungsten concentrate tender sale originally scheduled for today by a miner in Yunnan will be postponed, and the specific bidding time has not yet been determined.

[SMM Titanium Express] Asahi Kasei, Nippon Steel and Nippon Steel Trading have jointly launched a titanium recycling system for chlor-alkali electrolysis cells, processing production scrap into pure titanium feedstock for corrosion-resistant anode components. Through supply chain collaboration and digital traceability, the closed-loop system enhances resource efficiency and reduces environmental impact. The partners plan to expand cooperation to further integrate secondary raw materials into production processes.

[SMM Magnesium Express] Latrobe Magnesium successfully produced ~20 tonnes of high-grade magnesium oxide at its Victoria demonstration plant, with total magnesium compounds around 90%, paving the way for first magnesium metal production in H2 2026. The patented process uses brown coal power generation ash as feedstock, following a circular economy model. Long-term contracts with U.S. distributors are secured, with plans for a 100,000 tpa plant in Malaysia.

As of March 24, titanium dioxide prices continued to rise, with the SMM index up 4.6% since early 2026. Two rounds of price hikes were issued in March amid low inventories. Strong exports and production cuts supported gains, though sustainability post-peak season remains uncertain, hinging on downstream acceptance.

SMM, March 24: According to an official announcement from a Hunan-based company, bidding for the sale of 600 metric tons of physical bismuth concentrate from its operations for March 2026 will begin today. The deadline for bidding registration and submission is 10:00 a.m. on March 26. The minimum bid price for this auction is set at 130,600 yuan per metal ton. Bids below this threshold will be considered invalid.

Jan-Feb 2026 China magnesium exports reached 72.7kt, up 3.4kt YoY. Magnesium alloy led with +33.1% YoY, orders booked through April. Magnesium ingot fell 6.8% due to weak European demand, while powder grew 10.3%. However, US-Israel conflict disrupted Middle East aluminum plants, halting regional magnesium orders and pressuring Q2 outlook despite the strong start.

[SMM Tungsten Daily Review: Slight Price Collapse in the Scrap Tungsten Market, Ore and Upstream Smelting Products Consolidated Sideways] SMM News, March 23 In the short term, prices across the tungsten industry chain still showed divergence between primary and recycled materials. China was currently in a transition period marked by tightening supply on the raw ore side and a rising utilization rate of recycled materials. Smelters still needed some time to adjust their restocking practices and complete the adaptation and transition from a long-term contract pricing model led by the ore side to a scrap tungsten market procurement model featuring higher-frequency transactions and greater sensitivity to sentiment.