[SMM Chromium Week Review] Export Flows Rebound as China's Port Stocks Rise and African Prices Diverge

South Africa’s chrome ore exports fell 10.75% month-on-month to 2.36 million tonnes in August 2026, while high-carbon ferrochrome exports increased 20.0% to 117,180 tonnes, highlighting diverging trends in the country’s chromium trade. China remained the leading destination for chrome ore, receiving 1.67 million tonnes, or 70.8% of total shipments, despite a 6.09% monthly decline. Ferrochrome exports, meanwhile, were supported by stronger shipments to North America, with Canada receiving 26,373 tonnes and the United States 26,029 tonnes, together accounting for 44.7% of South Africa’s ferrochrome exports.​ The contrasting movements point to softer overseas demand for raw chrome ore alongside a recovery in ferrochrome shipments, particularly to North America. However, the monthly rebound in ferrochrome exports does not yet establish a sustained recovery in domestic smelting, while China’s dominant share of ore exports leaves South African shipments exposed to changes in Chinese purchasing activity.

[SMM Tantalum Flash] A seller from the Democratic Republic of Congo (DRC) quotes US$4.70 per kg for each one-percentage-point tantalum (Ta) unit. Using an illustrative grade of 35% Ta, the seller calculates US$822,500 in total, or US$164.50 per kg of ore. The grade, quantity and availability have not been independently verified. This is one seller’s asking indication, not a completed transaction or a market benchmark. The proposal divides payment into five instalments of 10%, 20%, 20%, 20% and 30%, with inspection, weighing, assay and document checks built into the acceptance process. It provides for an independent re-assay if the initial result is disputed. No buyer acceptance, payment or shipment has been confirmed. The quote specifies Ta metal units, so it should not be compared directly with Ta₂O₅-based prices without confirming the assay basis.