Zhangyuan Tungsten Raises Long-Term Contract Purchase Prices for First Half of June

[SMM Magnesium Weekly Review: Upstream Holds Back from Selling, Downstream Waits, Magnesium Ingot Slowly Declines Amid Game] Magnesium prices were in the doldrums this week. As of press time, mainstream quotations for 99.90% magnesium ingot in the main producing areas stood at 15,800-15,900 yuan/mt, down 100 yuan/mt WoW. Magnesium series products showed a divergent pattern this week. Dolomite prices were stable; the core mine in Wutai remained halted, pushing smelters to source from elsewhere, with ample supply from multiple channels and firm prices. Magnesium ingot saw a stepped decline, with fierce competition between upstream holding back from selling and downstream waiting. Inventory buildup pressure combined with maintenance and production resumptions led to ample spot cargo, and smelters lowered prices to facilitate transactions, but cost support limited the decline. The foreign trade market was in the doldrums, with a likely phased recovery at month-end as delivery demand is released. Magnesium powder transaction center shifted slightly lower, with both domestic demand and exports weak, moving in line with magnesium ingot. Magnesium alloy consolidated on a strong note along with magnesium ingot, but processing fees remained under pressure amid weak supply and demand. Overall, the magnesium series market is still expected to consolidate on a weak note in the short term, with cost support and weak demand forming the core game.

[Supply Side Production Cut Expectations and Disruption Intensify, Silicon Metal Prices Continue Strong]: On the market quotation and transaction side, affected by expectations for month-end production cuts at large plants in Xinjiang, silicon enterprises generally have a strong sentiment to hold prices firm. Their quotes increased WoW, and futures-spot traders also raised their quotes following the rise in futures prices, leaving almost no low-priced supply in the market. The center of suppliers' quotations generally increased, while China's downstream users and users outside China show little willingness to chase price rises. Some downstream users have poor acceptance of high prices and mainly place orders on demand for restocking.

[SMM Flash] Criminal organisations in the Amazon are increasingly positioned to expand from illegal gold mining into coltan, cassiterite, lithium, nickel, niobium and rare earth elements as demand grows for minerals used in batteries, semiconductors, defence, AI and clean-energy technologies. Existing networks controlling territory, clandestine airstrips, river routes and money-laundering channels can be adapted to support illicit mineral extraction and trade. In June 2026, Brazil’s Federal Police identified an illegal mining site in Pará where nearly 80 kg of gold was reportedly extracted over three years. The growing concern is that illegally sourced minerals can be mixed with legally mined material and laundered through forged documentation, intermediary companies and cross-border trade, making their origins difficult to detect. In April 2025, Colombian authorities seized nearly 49 tonnes of coltan and tin reportedly extracted from areas controlled by armed groups and destined for illegal export to China. Strengthening mineral traceability, financial intelligence, border controls and international cooperation will therefore be critical to protecting emerging critical-mineral supply chains from criminal infiltration.