News

[SMM Tungsten Express] The U.S. International Development Finance Corporation is considering financing the Severniy Katpar tungsten project in Kazakhstan. One of the world's largest undeveloped tungsten deposits, it holds over 10% of global reserves and is a JV between Cove Kaz Capital and Kazakh state miner Tau-Ken Samruk. U.S. officials called it a landmark investment in Kazakhstan's mining sector, aiming to diversify critical mineral supply chains and implement the U.S.-Kazakhstan critical minerals MOU signed in November 2025.

[SMM Tungsten Express] European tungsten prices continued their upward trend on Feb 13. APT CIF Rotterdam port is quoted at $1,500-1,670/mtu, averaging $1,585/mtu, up 5.7% WoW. Ferrotungsten Rotterdam warehouse is quoted at $189-205/kg W, averaging $197/kg W, up 11.3% WoW.

[SMM Titanium Express] Boeing is exploring Saudi Arabia as an alternative titanium supplier to reduce reliance on traditional sources like Russia. Under Vision 2030, Saudi Arabia has built titanium sponge capacity, with some Boeing suppliers already using Saudi-produced sponge processed to aviation grade. Boeing focuses on downstream titanium, requiring significant processing, certification and investment—adoption depends on business case feasibility. Saudi Arabia aims to become a global titanium supply chain participant and specialized aviation-grade titanium supplier.

[SMM Titanium Express] LB Group announced it plans to acquire a 5.46% stake in Yunnan National Titanium Metal from its subsidiary LB Longfeng Titanium for RMB 234 million. Upon completion, LB Longfeng will no longer hold shares in Yunnan National Titanium. The move marks a key step in integrating titanium industry resources and optimizing ownership structure, strengthening its competitiveness in the titanium metal sector.

[SMM Titanium Express] Canada’s Resouro advances its Tiros Ti-REE project in Brazil. The project hosts 165Mt of TiO₂ at an average grade of 12% (23% in high-grade zone), with by-product dysprosium and terbium. Two product streams are planned: coarse TiO₂ for the pigment market and fine TiO₂ for aerospace-grade titanium metal, targeting alternatives to Russian sponge. Offtake talks with a US partner and financing discussions with development banks are underway, with a PFS targeted for 2026.

[Gearing Up for 2026! Magnesium Market Wraps Up a Stable January, Nearly 300,000 mt of Additional Demand to Boost Industry's New Prosperity] The magnesium market's performance for the year has now concluded. Price fluctuations in the magnesium market during 2025 may not have stood out among nonferrous metals, but it is precisely this past stability that is expected to foster the potential for nearly 300,000 mt of additional magnesium alloy demand growth in 2026. The magnesium metal market in 2026 is set to embark on a year of prosperity, marking a crucial step toward a thriving future. The industry is poised to write a new chapter of growth, which is highly anticipated across the sector. As we bid farewell to the old and welcome the new, on behalf of the SMM Magnesium Team, I would like to extend our sincerest gratitude to colleagues in the industry, magnesium enterprise partners, experts, and scholars who have long cared for and supported SMM. Wishing everyone a prosperous New Year, immediate success, abundant wealth, and lasting good fortune!

Utah paid $30 million for a bankrupt magnesium plant—but not the $100 million cleanup. Its toxic legacy seeps toward the Great Salt Lake, unpaid. Across the Atlantic, Austria’s LKR cracked magnesium’s code: alloy ZAX210 now shapes into wire for medical implants and 3D printing. Two faces of the same metal: one buried in liability, the other alight with possibility.

[SMM Magnesium Express] U.S. Magnesium's bankruptcy deepens. The plant, once responsible for 92% of Utah's toxic air emissions, left unlined ponds leaking dioxins & heavy metals into Great Salt Lake groundwater. It claims inability to pay >$100M cleanup costs while its billionaire-controlled parent Renco Group looks on. Utah acquired assets for $30M, but massive ecological restoration bill remains unresolved.

[ SMM Magnesium Morning Meeting Minutes: Magnesium Market Closes Steadily Before Holiday, Transactions Turn Sluggish Awaiting Post-Holiday Restart ] February 12, raw material side: dolomite and ferrosilicon prices remained unchanged from the previous working day. Magnesium ingot market quotations were stable, with mainstream transaction prices in the Fugu area maintaining at 16,350-16,450 yuan/mt. Approaching the Chinese New Year, supply-side enterprises' willingness to sell weakened, quotations were mainly stable, and logistics shipments slowed down significantly; domestic trade spot cargo transactions were sluggish, with only small amounts of just-in-time procurement, and transactions were mainly futures orders; in foreign trade, some forward orders for delivery by the end of March have started tenders. The ferrosilicon market benchmark price and processing fee both held steady, enterprise production was normal, downstream die-casting and end-user enterprises were gradually going on holiday, transactions tended to be mediocre, and supply-demand maintained a tight balance. The magnesium powder market operated steadily, enterprises' pre-holiday stockpiling was basically completed, production pace slowed down, domestic trade procurement wrapped up, logistics capacity declined, and the transaction atmosphere turned cold, with limited new orders in foreign trade. Overall, the magnesium industry chain entered a stable pre-holiday operation phase, prices of all varieties held steady, market trading tended to be sluggish, quietly awaiting post-Chinese New Year demand recovery and the landing of new orders.

[SMM Magnesium Express】Austrian research institutes are jointly developing new wire processing technology for ZAX210 magnesium alloy, combining twin-roll casting, continuous rotary extrusion, and wire drawing. The aim is to improve formability by optimizing microstructure and texture, expanding Mg alloy wire applications in medical and 3D printing fields.

[SMM Magnesium News] Gansu lists magnesium-based new materials as a strategic emerging industry. Its government work report proposes building a processing base for strategic mineral resources like magnesium, accelerating full-chain development of Pingliang’s 700-million-ton magnesite dolomite and boosting industry with new energy advantages. Pingliang actively responds, planning a 10-billion-yuan magnesium-based new materials cluster. In 2026, it will speed up transfer of magnesite dolomite exploration rights and pilot project construction. Kongtong District, with rich resources, closely cooperates with China Minmetals to promote magnesium smelting and alloy projects. Currently, its explored magnesite dolomite resources exceed 700 million tons.

[Ferromolybdenum Steel Tender Information] On February 11, SMM reported that a steel mill in Shandong issued a latest ferromolybdenum tender price of 268,000 yuan/mt (cash/acceptance/Tongbao), with a quantity of 30 mt.