News

SK On announced that it has recently signed an MOU with Standard Energy to collaborate on the development of short-duration energy storage system (ESS) technologies based on vanadium-ion batteries.

[Explosion at a US Molybdenum Smelter] SMM January 30: According to foreign media reports, on the evening of January 29, 2026, US local time, an explosion occurred at The Langeloth Metallurgical Facility in Pittsburgh, Pennsylvania. It is understood that one person has been taken to the hospital. The enterprise primarily produces molybdenum oxide and ferromolybdenum, with a molybdenum oxide production scale of approximately 1,200 mt/month and a ferromolybdenum production scale of approximately 500 mt/month. Based on information from 2024, its potential total capacity was approximately 40 million pounds of molybdenum products.

In late January 2026, China’s domestic manganese sulfate market has presented a three-pronged pattern of soaring costs, tight supply and strong demand. Coupled with the concentrated restocking demand from downstream industries ahead of the Spring Festival, spot resources remain in acute shortage and order schedules are tight. The industry widely expects a new round of sharp price hikes in the near future.

On January 21, Naxin Huanyu (Shandong) New Energy Materials Co., Ltd. announced that the company had signed an investment cooperation agreement for the sodium-ion battery industrial park project with the Management Committee of Xintai High-tech Industrial Development Zone in Shandong Province in October 2025. According to the agreement, Naxin Huanyu plans to invest 1.5 to 2 billion yuan to build a sodium battery industrial base covering 285 mu (approximately 19 hectares) in the Xintai High-tech Zone, with a planned production capacity of 5 GWh. The main construction components include: an intelligent cell production line with an annual capacity of 5 GWh, a workshop for high-performance cathode materials with an annual output of 10,000 tons, a workshop for hard carbon anode materials with an annual output of 3,000 tons, and a PACK system integration production line with an annual capacity of 2 GWh.

SMM, Jan 28 – According to an official announcement from SMM, Guangxi Yusheng Germanium High-tech Co., Ltd. will conduct a public tender sale for a batch of zone-refined germanium ingots starting today. Specifically, the batch comprises 300 kg of zone-refined germanium ingots, all available as spot goods, with the pick-up deadline set for February 10, 2026. The content will be determined based on laboratory analysis. The starting bid price for the zone-refined germanium ingots is 16,800 yuan/kg. Delivery will be arranged by the buyer (self-pickup), with freight costs borne by the buyer.

Huayu Mining (601020.SH) released its 2025 annual performance forecast, projecting net profit attributable to shareholders of the publicly listed firm to be between 800 million yuan and 900 million yuan, an increase of 215.80% to 255.28% YoY. The reasons for the performance change: during the reporting period, demand in the nonferrous metals market was robust and prices rose; the company benefited from the favorable conditions in the precious metals and minor metal markets, leading to a substantial growth in operating revenue; at the same time, non-recurring gains and losses increased significantly YoY.

SMM, Jan. 27: According to SMM, Baiyin Nonferrous Metals Group’s Northwest Lead-Zinc Smelter has launched a public tender for approximately 100 tons of crude cadmium. Official sources indicate that the bidding reserve price will be set at a discount of 3,000 yuan per ton to the average price quoted on the Shanghai Nonferrous Metals Market (SMM), with the highest bidder securing the deal. The auction will proceed only if at least three participants register. Registration closes at 17:00 on January 29, 2026, and bidding begins at 10:00 on January 30, 2026. Market participants noted that as cadmium prices have remained stable recently, this tender is particularly noteworthy, as it could reflect the strength of market demand to some extent and provide insights into whether cadmium prices may recover.

[Tungsten Industry Long-Term Contract Information] SMM January 26: A tungsten enterprise in Guangdong released the long-term contract prices for the second half of January on January 26. The unit price for black tungsten concentrate with a grade above 55% was 556,000 yuan/mt, up 71,000 yuan/mt MoM. The unit price for white tungsten concentrate with a grade above 55% was 555,000 yuan/mt, up 71,000 yuan/mt MoM. The unit price for ammonium paratungstate was 800,000 yuan/mt, up 100,000 yuan/mt MoM. All prices include VAT.

SMM, January 26 – According to customs data, China’s import volume of other antimony ores and concentrates in December 2025 reached 4,775.96 tons. This figure marks a continued increase compared to the import volume of 3,637.04 tons in November, once again surpassing the 4,000-ton threshold. Market participants noted that the antimony market has recently entered an upward trend, and the extent of the price rebound is highly anticipated. However, as international antimony product prices continue to decline and the price gap between domestic and foreign markets narrows significantly, the rise in antimony ore imports is considered a natural outcome. Nevertheless, many industry insiders indicate that the long-term trend of tight supply for imported antimony raw materials is expected to persist.

According to customs data, China's antimony oxide exports in December 2025 amounted to 382.25 tons. On a month-on-month basis, this represents a significant increase of 26.57% compared to the 302 tons exported in November. Although the current volume remains relatively low compared to normal export levels, many market participants note that exports have shown a marked improvement starting from November, following several months of exports hovering around several hundred tons. By December, antimony oxide exports continued to rise steadily, indicating a strengthening willingness among industry players to increase export activities.