Ammonium Perrhenate Procurement Analysis

Published: May 28, 2026 18:49

Save

During December 2025 to May 2026, the CAS Institute of Metal Research completed 2,800 kg of ammonium perrhenate procurement amid concentrated supplier supply and a nearly 90% six-month price surge, with tight market supply driven by manufacturers’ inventory hoarding and robust institutional and corporate demand, keeping prices upward.

I. Overall Overview

During the statistical period from December 8, 2025 to May 20, 2026, the Institute of Metal Research, Chinese Academy of Sciences launched a total of 10 procurement batches. Among them, 5 batches were successfully awarded and moved to delivery execution; 2 batches resulted in failed bids. Another 2 batches had budgets recorded but no final transaction data available, remaining pending or incomplete.

II. Key Procurement Milestones and Delivery Details

The total weight of delivered goods under completed procurement during the period reached approximately 2,800 kilograms. Detailed transaction information for each batch is as follows:

December 12, 2025 (2 batches)Two separate procurements were completed, each with a quantity of 500 kg. The unit price stood at RMB 12,100 per kg (total value: RMB 6.05 million) and RMB 12,200 per kg (total value: RMB 6.10 million) respectively.

January 4, 2026A 500 kg procurement was finalized at a unit price of RMB 13,915 per kg, with a total value of RMB 6.9575 million.

April 24, 2026A 500 kg procurement was completed at a unit price of RMB 19,890 per kg, with a total value of RMB 9.94 million.

May 20, 2026A large-scale procurement of 800 kg was executed at a unit price of RMB 23,250 per kg, with a total value of RMB 18.6 million.

III. Core Trend Analysis

High Concentration of Suppliers

Transaction records show that Shanghai Xiaoshudian Chemical Technology Co., Ltd. holds a dominant position in the supply chain. This supplier secured the vast majority of awards across all 5 publicly disclosed successful batches. Additionally, the cooperation frequency and single-batch procurement volume have increased over time, with the per-batch quantity rising from 500 kg to 800 kg.

Stepped Surge in Procurement Unit Prices

The unit price of the commodity witnessed a notable stepped upward trend. The average unit price was RMB 12,150 per kg in December 2025, climbing to RMB 13,915 per kg in January 2026 and RMB 19,890 per kg in April 2026, before hitting RMB 23,250 per kg in May 2026. Within six months, the procurement price of the raw material surged by nearly 90%, almost doubling, indicating mounting upward price pressure across the upstream raw material sector.

According to statistics from SMM, China’s domestic output of ammonium perrhenate reached approximately 24,000 kg in 2025, while the consumption of rhenium metal stood at around 15,000 kg, equivalent to 21,000 kg of ammonium perrhenate. On paper, the market still saw a supply surplus. Nevertheless, actual delivery data reveals that some producers held back inventories, leading to a real market supply far below the 24,000 kg output figure.

Overall, large institutional buyers have ramped up stockpiling and continued to deplete circulating inventory. Coupled with new tender demands released by Sinopec, the supply-demand gap for high-purity ammonium perrhenate is narrowing. Prices are poised to stay firm with an upward bias, and available goods will further concentrate among core suppliers and major end-users.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

[SMM Flash] Rising Chinese Ferrochrome Output Adds to South Africa's Smelting Recovery Challenge

Merafe Resources' latest results highlight the growing competitive challenge posed by China's expanding ferrochrome industry as South African producers seek to restore smelting capacity. Merafe's market review shows that Chinese ferrochrome output increased by more than 6% in 2025 to approximately 9.5 million mt, accounting for around 60% of global supply, while South African production declined by about 50%. The company attributed China's growth to the commissioning and higher utilization of lower-cost smelting capacity, particularly in the second half of 2025. For South Africa, the recovery of ferrochrome smelting therefore remains dependent not only on improving energy costs but also on global demand and the competitive supply environment. Merafe states that the medium- to long-term viability of its smelting operations requires materially lower energy costs together with sustained improvement in global ferrochrome and steel demand and prices. SMM sees China's expanding, lower-cost ferrochrome capacity as an important factor that South African producers will need to consider as idled capacity gradually returns.

2 hours ago

3 hours ago

[SMM Flash] South African Chrome Ore Traders Sound Alarm Over Widening Local Price Disconnect with International Buyers

A growing gap between local prices and what international buyers are offering has become a mounting concern among South African chrome ore traders, with industry participants warning that the market is being skewed by pricing benchmarks that do not reflect the true cost structures of reliable, large-scale operations. Several traders have told SMM that international buyers are increasingly anchoring their offers to prices set by smaller traders operating low-cost wash plants. These smaller operations have significantly lower overheads and can afford to sell at levels that bear little resemblance to the actual production and logistics costs borne by larger, more established producers. Traders stress that international buyers are treating these low-end prices as market benchmarks without distinguishing between the vastly different value propositions offered by small-scale suppliers versus major operations backed by large, secure mines. Traders representing partnerships with big South African chrome ore mines point to key value-adds that justify a premium over low-cost wash-plant supply — value-adds they feel are being systematically overlooked. These include stronger quality assurances, greater resilience in supply continuity during adverse conditions, and the ability to sign firm contracts guaranteeing fixed volumes on consistent, agreed schedules such as weekly deliveries. Moisture content, a recurring buyer concern, was highlighted as an area where established operators can offer greater control and reliability — a point given added relevance by the severe winter weather that has recently hit South Africa, with a cold front and cut-off low pressure system bringing heavy snow, disruptive rain, strong winds and freezing temperatures across parts of the country. The broader concern among South African traders is that international buyers are not adequately factoring operations costs, operational stability, supply certainty, and quality assurance into their pricing decisions. With the gap between low-cost, smaller-scale supply and premium, large-scale production widening, traders are calling for greater market awareness of the cost realities and service levels that differentiate reliable, long-term partners from spot-market players offering bargain prices without the same commitments.

3 hours ago

8 hours ago

[SMM Express] Higher Prices Drove Merafe's Doubled H1 2026 Profit as Ferrochrome Inventory Drawdown Offsets Lower Output

Merafe Resources' full H1 2026 results, released 11 August, show profit more than doubling to R512 million from R233 million a year earlier, with HEPS up 64% to 20.7 cents and revenue up 36% to R3.43 billion. The board quadrupled its interim dividend to 16 cents a share, from 4 cents, as net cash from operations swung to R976 million from R175 million utilized a year earlier. Merafe attributed the earnings increase to higher commodity prices and higher volumes sold over the period. The results disclose sales volumes for the first time, revealing how those volumes held up despite a 75% collapse in ferrochrome production, to 28,000 tonnes. Ferrochrome sales fell just 4% to 73,000 tonnes, a gap that can only be explained by Merafe drawing down existing finished ferrochrome stock built up in H1 2025, when production of 112,000 tonnes had far outpaced that period's sales of 76,000 tonnes. Chrome ore told a different story: production of 425,000 tonnes still exceeded sales of 380,000 tonnes, meaning ore inventory kept growing, even as the 75% jump in ore sales volumes from 217,000 tonnes a year earlier helped underpin revenue. The group also reported no fatalities, a 24% improvement in its injury frequency rate to 1.36, and net asset value up 7% to R5.03 billion. Together, the figures confirm that firmer pricing, not fresh production, was the primary driver of Merafe's H1 2026 earnings, with the ferrochrome inventory drawdown specifically helping bridge the gap between what the venture produced and what it sold.

8 hours ago