News

[SMM Tungsten Express] European tungsten prices continued their upward trend on Feb 13. APT CIF Rotterdam port is quoted at $1,500-1,670/mtu, averaging $1,585/mtu, up 5.7% WoW. Ferrotungsten Rotterdam warehouse is quoted at $189-205/kg W, averaging $197/kg W, up 11.3% WoW.

[SMM Titanium Express] Boeing is exploring Saudi Arabia as an alternative titanium supplier to reduce reliance on traditional sources like Russia. Under Vision 2030, Saudi Arabia has built titanium sponge capacity, with some Boeing suppliers already using Saudi-produced sponge processed to aviation grade. Boeing focuses on downstream titanium, requiring significant processing, certification and investment—adoption depends on business case feasibility. Saudi Arabia aims to become a global titanium supply chain participant and specialized aviation-grade titanium supplier.

[SMM Titanium Express] LB Group announced it plans to acquire a 5.46% stake in Yunnan National Titanium Metal from its subsidiary LB Longfeng Titanium for RMB 234 million. Upon completion, LB Longfeng will no longer hold shares in Yunnan National Titanium. The move marks a key step in integrating titanium industry resources and optimizing ownership structure, strengthening its competitiveness in the titanium metal sector.

[SMM Titanium Express] Canada’s Resouro advances its Tiros Ti-REE project in Brazil. The project hosts 165Mt of TiO₂ at an average grade of 12% (23% in high-grade zone), with by-product dysprosium and terbium. Two product streams are planned: coarse TiO₂ for the pigment market and fine TiO₂ for aerospace-grade titanium metal, targeting alternatives to Russian sponge. Offtake talks with a US partner and financing discussions with development banks are underway, with a PFS targeted for 2026.

[SMM Magnesium Morning Conference Summary: Domestic Magnesium Market Remained Stable Before Chinese New Year, Primary Magnesium and Magnesium Alloy Prices Stabilized in the Short Term] Yesterday, domestic primary magnesium market quotations remained stable. As the Chinese New Year approached, smelters showed a weak willingness to sell. Pre-holiday stockpiling for domestic trade was largely completed downstream, and spot transactions were sluggish, with most deals being futures orders. In foreign trade, forward tender orders for delivery by the end of March had already been initiated in the first half of the month. It is expected that primary magnesium prices will remain stable within the range of 16,400 yuan/mt before the Chinese New Year. Magnesium alloy market prices were also steady, with mainstream tax-inclusive ex-factory prices at 18,600-18,800 yuan/mt and FOB prices at $2,600-2,650/mt. Enterprises had completed raw material stockpiling and maintained normal production, while downstream die-casting and end-users were gradually entering holidays. Market supply and demand maintained a tight balance, and short-term price stability is expected to continue.

[SMM Magnesium Weekly Review: Magnesium Market Remained Stable Pre-Holiday, Prices Steady in Major Production Areas, Overseas Inquiries Increased but Trading Remained Sluggish] This week, the domestic magnesium industry chain market operated steadily overall. As the Chinese New Year holiday approached, market trading activity gradually slowed, with participants generally adopting a wait-and-see attitude. The dolomite market remained stable overall; the suspension of production by top-tier enterprises in the Wutai region led to tight supply of high-quality resources, but other major production areas promptly compensated for the gap, ensuring stable supply. Steady operations at primary magnesium enterprises in Shaanxi, Shanxi, and Inner Mongolia generated rigid demand, coupled with rising pre-holiday freight costs pushing up expenses, supporting relatively strong prices. The magnesium ingot market held steady, as smelters in major production areas saw eased funding pressure and maintained firm offers, while downstream pre-holiday stockpiling concluded, resulting in sluggish spot trades. In the Tianjin Port FOB market, overseas new orders were scarce, mostly for forward delivery, with the Chinese New Year holiday impacting the progress of actual transactions. Magnesium powder enterprises slowed their production pace after completing raw material stockpiling, as both domestic and international procurement neared completion, leading to a cooling trading atmosphere. Magnesium alloy enterprises operated normally, but downstream die-casting and end-user companies gradually began holiday breaks, resulting in subdued orders. The tight supply-demand balance supported firm processing fees.

[ SMM Magnesium Morning Meeting Minutes: Magnesium Market Closes Steadily Before Holiday, Transactions Turn Sluggish Awaiting Post-Holiday Restart ] February 12, raw material side: dolomite and ferrosilicon prices remained unchanged from the previous working day. Magnesium ingot market quotations were stable, with mainstream transaction prices in the Fugu area maintaining at 16,350-16,450 yuan/mt. Approaching the Chinese New Year, supply-side enterprises' willingness to sell weakened, quotations were mainly stable, and logistics shipments slowed down significantly; domestic trade spot cargo transactions were sluggish, with only small amounts of just-in-time procurement, and transactions were mainly futures orders; in foreign trade, some forward orders for delivery by the end of March have started tenders. The ferrosilicon market benchmark price and processing fee both held steady, enterprise production was normal, downstream die-casting and end-user enterprises were gradually going on holiday, transactions tended to be mediocre, and supply-demand maintained a tight balance. The magnesium powder market operated steadily, enterprises' pre-holiday stockpiling was basically completed, production pace slowed down, domestic trade procurement wrapped up, logistics capacity declined, and the transaction atmosphere turned cold, with limited new orders in foreign trade. Overall, the magnesium industry chain entered a stable pre-holiday operation phase, prices of all varieties held steady, market trading tended to be sluggish, quietly awaiting post-Chinese New Year demand recovery and the landing of new orders.

[SMM Magnesium Express】Austrian research institutes are jointly developing new wire processing technology for ZAX210 magnesium alloy, combining twin-roll casting, continuous rotary extrusion, and wire drawing. The aim is to improve formability by optimizing microstructure and texture, expanding Mg alloy wire applications in medical and 3D printing fields.

[SMM Magnesium News] Gansu lists magnesium-based new materials as a strategic emerging industry. Its government work report proposes building a processing base for strategic mineral resources like magnesium, accelerating full-chain development of Pingliang’s 700-million-ton magnesite dolomite and boosting industry with new energy advantages. Pingliang actively responds, planning a 10-billion-yuan magnesium-based new materials cluster. In 2026, it will speed up transfer of magnesite dolomite exploration rights and pilot project construction. Kongtong District, with rich resources, closely cooperates with China Minmetals to promote magnesium smelting and alloy projects. Currently, its explored magnesite dolomite resources exceed 700 million tons.

[Ferromolybdenum Steel Tender Information] On February 11, SMM reported that a steel mill in Shandong issued a latest ferromolybdenum tender price of 268,000 yuan/mt (cash/acceptance/Tongbao), with a quantity of 30 mt.

SMM February 11 News: According to official information, Southern Nonferrous Metals Co., Ltd. of Nandan County is externally selling antimony ingots. The quality specifications comply with the national standard No. 2, implemented under (GB/T1599-2014). The goods are packaged on fumigated pallets, bundled with steel or plastic-steel straps, totaling approximately 200 tons.

SMM February 11 News: According to official information from Southern Nonferrous Metals Co., Ltd. of Nandan County, a public tender for 100 tons of bismuth metal ingots begins today. Specifications: 99.99%; compliance standard: GB/T915-2010. The deadline for this quotation is: 16:00 on February 12, 2026.