October 21 SMM spot prices for small metals: prices for each item are flat from the previous trading day

[SMM Tungsten Express] European APT offer ranges shifted down to $2,700-3,100/mtu this week, retreating from previous levels. Some offers were heard at $2,700-2,750/mtu, with more low-priced quotes emerging, though actual transactions remained thin with no new spot deals concluded. Smelter long-term contract prices held above $3,000/mtu, with existing output largely pre-sold and limited spot availability. Scrap and ore prices fell in tandem, with buyers leaning bearish and a strong wait-and-see atmosphere. Some traders noted that as long as China cannot export feedstock, no new low-priced spot material will emerge, keeping the market in a stalemate. Overall, the APT offer center moved slightly lower, with near-term prices facing downward pressure amid weak demand and softer scrap and ore prices.

[SMM Titanium Flash] More than 6,500 people in Madagascar have filed a claim in London’s High Court against Rio Tinto over alleged contamination linked to its QIT Madagascar Minerals (QMM) ilmenite operation, Reuters reported on 30 September. The claimants, represented by Leigh Day, allege wastewater exposed communities to lead and uranium and seek compensation and remedial orders. Rio Tinto said it had been notified but had not received the claim documents. It said its water monitoring found uranium samples below detection limits and most lead samples below detection limits. QMM produces ilmenite for the titanium dioxide supply chain. The case places water management and community relations at a major African mineral sands operation under renewed scrutiny. The allegations remain unproven, and the filing itself does not establish any change in QMM production.

Outokumpu’s October 2026 North American coil alloy surcharges edged lower across several molybdenum-bearing grades. The surcharge for 316L 2.5% Moly fell 0.5% MoM to $4,291.96/t, while 316L/4404 declined 0.7% to $3,886.31/t. Duplex 2205 was broadly flat at $4,225.83/t. Surcharges for 904L and 254 SMO fell 0.8% and 0.6% to $8,236.48/t and $8,914.62/t, respectively. These are alloy surcharges rather than full steel prices and reflect nickel, chromium and other alloy inputs as well as molybdenum.