Silicon social inventories shrank 7,000 mt on week

Sivers Semiconductors announced a $30 million expansion of its indium phosphide (InP) manufacturing facility in Glasgow. Upon completion, the site is expected to support annual production of over 100 million CW DFB lasers. Work will begin in H2 2026, with operations targeted for Q4 2027. Sivers linked the investment to anticipated AI datacenter and optical-networking customer ramps and expects InP lasers and semiconductor optical amplifiers to play a growing role in energy-efficient optical connectivity. SMM views the expansion as direct medium-term support for high-purity indium demand. However, current output, utilization and indium intensity were not disclosed.

As of September 24, 2026, China's total chrome ore inventory at ports fell to 5.037 million mt, down 144,400 mt (-2.79%) from September 18, the second straight weekly decline. Stocks are now down 280,700 mt (-5.28%) from the September 11 peak, essentially erasing the two-week build. Tianjin Port drove the draw, falling 136,200 mt (-2.99%) to 4.4258 million mt, or 87.9% of the national total. Qinzhou plus Fangchenggang slipped 8,200 mt (-2.00%) to 401,100 mt, while all other ports were unchanged. The decline came despite weak demand, as Tsingshan and other major mills cut October ferrochrome tender prices by RMB 200 per 50mt unit and held back restocking. Traders trimmed offers to clear cargoes ahead of the holidays, with South African 40-42% fines at Tianjin at 52.5-53 yuan/mtu, while limited ferrochrome output cuts kept smelters drawing on port stocks. Softer mid-to-late August departures, at 448,500 mt and 376,000 mt in the weeks ended August 14 and 28, also likely thinned arrivals, though the September rebound in loadings points to a recovery ahead.

Mongolian Stock Exchange data show that Erdenet Mining Corporation auctioned 14 lots totaling 499.408 tonnes of molybdenum concentrate under a forward contract on September 24. The material contained at least 44% molybdenum. Three bidders lifted the price from $28,504.17 to $34,754.17 per product tonne, a 21.93% premium, taking the total contract value to $17.36 million. Based on the minimum 44% grade, SMM calculates an equivalent of about $35.83/lb Mo, although the actual figure depends on final assay and is not directly comparable with molybdenum oxide spot prices. The auction price was 2.9% above the September 10 result.