Rare earth trade is just a commercial act between China and Europe.

[SMM Magnesium Survey: Japan Achieves Breakthrough in Magnesium Battery Technology, Romania Launches Low-Carbon Magnesium Project] Tohoku University in Japan developed a magnesium-tin alloy anode, boosting the cycle life of solid-state magnesium batteries by over 400 times and overturning the traditional concept of interfacial reaction suppression. Romania's Verde Magnesium launched an EU strategic flagship project, adopting a low-carbon aluminothermic smelting process, and plans to build a 30,000 mt/year smelter by 2030, filling the 25-year gap in primary magnesium production in Europe and creating a near-zero-carbon magnesium supply chain.

Overseas hafnium prices skyrocketed from $5,000 to $13,114.75/kg by April 2026, squeezed by AI-driven semiconductor demand and China's export controls, with high prices likely to persist.

[Análisis del mercado de magnesio de SMM: El soporte de costes lucha contra la débil demanda, el mercado de magnesio se consolida en mínimos a corto plazo, las próximas paradas de mantenimiento podrían ofrecer soporte periódico a los precios] En mayo de 2026, los precios del magnesio se movieron lateralmente dentro de un rango de 16.300-16.700 yuanes/t.