Weekly Magnesium Output Flat at 23,082 Tons, Operating Rate Steady at 75.7%

【SMM Flash】Major Mine Collapse in Eastern DRC May Impact Global Tantalum Supply. According to the rebel group "M23," a large-scale tunnel collapse occurred recently at the Rubaya copper-tantalum mining area in North Kivu Province, resulting in over 200 fatalities, mostly among artisanal miners, including women and children. Controlled by M23 since April 2024, the mine accounts for over 15% of global tantalum supply, a critical metal used in smartphones, electric vehicles, aerospace, and other high-tech applications. The cause of the accident and its subsequent impacts are still under observation.

[SMM Weekly Magnesium Inventory Flash Report] This week, the factory inventory decreased by 3.58% compared to the previous week, and market transactions continued the trend of concentrated procurement and bulk deals. The expected continuous snow and rain weather has been driving downstream manufacturers to stock up in advance, which has become the core driving force for concentrated transactions. Manufacturer inventories have shown a clear polarization. Within the main production areas, enterprises holding back goods for higher prices have high inventories, while manufacturers selling according to market conditions are running out of stock. The remarkable overall trading volume has ultimately led to a decline in magnesium market inventories across the board.

SK On announced that it has recently signed an MOU with Standard Energy to collaborate on the development of short-duration energy storage system (ESS) technologies based on vanadium-ion batteries.