[SMM Chromium Flash] Global Chrome Ore Departures Surge 83.99% WoW to 691,800 mt, Maputo and Richards Bay Both Rebound

[SMM Flash] Premier African Minerals has identified an estimated US$19.1 million funding requirement through December 31, 2027, as it seeks additional capital for its Zulu Lithium and Tantalum Project in Zimbabwe and other corporate obligations. The company has called a general meeting for September 23, where shareholders will vote on resolutions providing additional share-issuance authority. Premier said its available funds are limited and warned that failure to secure further financing could materially affect the Zulu project and the wider group.​ The proposed authorities include the potential issuance of up to 58.63 billion new shares to provide funding flexibility, alongside separate provisions covering creditor settlements and conversion rights. The announcement highlights continued financing pressure surrounding Zulu as Premier works to optimise operations and progress the project towards sustainable production. For the tantalum market, securing sufficient capital will be important to Zulu’s ability to develop its prospective tantalum-bearing output, although the US$19.1 million represents an estimated funding requirement rather than financing already secured.

As of September 4, 2026, China's total chrome ore inventory at ports stood at 5.219 million mt, up 191,000 mt (+3.80%) from 5.028 million mt on August 28. Tianjin Port, China's dominant chrome ore hub, held 4.5737 million mt, up 186,900 mt (+4.26%) week-on-week, accounting for 87.6% of the national total, up from 87.3% the prior week. The remaining ports collectively held just 645,300 mt (+42,000 mt, +0.66% WoW), essentially flat. Almost the entirety of this week's national inventory build was therefore concentrated at Tianjin, reaffirming its role as the primary discharge and warehousing hub for seaborne ore serving Inner Mongolia and other northern ferrochrome smelting clusters. The build reflects a supply side that continues to outrun downstream offtake. South Africa remains the overwhelming source of China's ore, with H1 2026 imports up nearly 30% YoY and exports staying elevated as Transnet rail reforms and growing use of the Maputo corridor via Mozambique ease logistics bottlenecks that had previously capped shipment volumes. Zimbabwean supply has also surged (+44% YoY in H1), adding further to arrivals. On the demand side, ferrochrome producers have kept operating rates high even as high-carbon ferrochrome prices eased roughly 100 yuan/mt in August on oversupply and sluggish retail sales, while China's stainless steel sector, despite entering its traditional September-October peak season, is seeing mills resume post-summer-maintenance output faster than downstream orders are recovering, with July stainless exports down 13.2% MoM. With ore arrivals holding firm and consumption growth lagging, port stocks, concentrated at Tianjin, look set to stay well-supplied into the Mid-Autumn Festival and National Day holiday period.

SMM News, September 7: According to market rumours obtained by SMM, a major smelter in Hunan recently completed a successful public tender sale for several tons of refined cadmium. Market rumours indicate the final transaction price of refined cadmium stood at around RMB 27,500 per ton. Market participants noted that cadmium prices are showing a certain weakening trend at present with subdued buying interest from end‑users. Nevertheless, the successful closing of this tender reflects that market demand is not as sluggish as perceived to some extent.