Jinchuan Group Seals High-Price Deal for Crude Selenium

[SMM Magnesium Weekly Review: Magnesium Market Continued to Consolidate at High Levels, with Cost Support and Demand Stalemate Persisting] This week, the overall magnesium industry chain continued to consolidate at high levels, with prices of all categories remaining largely stable. The raw material dolomite market operated steadily, with differentiated supply across regions but overall stability, while the procurement pace on the demand side remained steady. The magnesium ingot market remained in a supply and demand stalemate, as producers showed strong reluctance to sell, and low circulating inventory supported firm quotations. However, both domestic trade and foreign trade demand appeared weak, transactions were sluggish, and FOB quotations stayed at high levels, though actual deals were limited. The magnesium powder market remained stable with a firm tone, domestic trade demand continued to recover steadily, foreign trade growth was limited, and cost support remained in place. The magnesium alloy market's benchmark price held steady, processing fees remained firm, enterprise operating rates rebounded, and downstream demand gradually recovered, though the pace of growth slowed, with overall transactions remaining mild. Looking ahead, the tug-of-war between cost support and weak demand is expected to continue, and the market may continue to consolidate at high levels.

SMM March 11 News: According to official sources from Baiyin Nonferrous Group Co., Ltd., the company plans to sell 33 tons of crude selenium. The pricing mechanism will be based on bidding for the premium/discount. The minimum premium is set at 10,500 RMB/ton. This project requires three registered participants to proceed with the bidding. The registration deadline is 5:00 PM on March 16, 2026, and the bidding is scheduled to start at 3:00 PM on March 17, 2026. Given the recent positive trading conditions for crude selenium tenders, with relatively high transaction prices, market insiders anticipate that the outcome of this premium bidding will be worth watching.