UK firm secures financing to restart world's second-largest tungsten mine

[SMM Tungsten Express] As of April 2, European tungsten raw material and scrap prices continued to rise. According to SMM data, APT CIF Rotterdam is quoted at $3,100-3,200/mtu, averaging $3,150/mtu, up $350 from last week. European scrap carbide blades are at €135-145/kg, averaging €140/kg, up €10 from last week; scrap drill tips at €145/kg. Trading activity was light ahead of the Easter holidays, but tight feedstock supply continues to support expectations of further price increases.

[SMM Magnesium Weekly Review: Tight Supply and Recovering Demand Drove Magnesium Prices Steadily Higher This Week, Breaking 17,500] This week, China's magnesium industry chain as a whole held up well. On the raw material side, the dolomite market remained stable. Part of the suspended output in core production areas was supplemented by supply from surrounding regions, while stable operating rates at downstream primary magnesium smelting plants supported demand and the supply-demand balance. Affected by rising crude oil prices, subsequent delivered prices may rise slightly. The magnesium ingot market stayed firm, and both production and sales in major producing areas were strong. Geopolitical disruptions pushed up energy expectations, prompting producers to hold back sales and tightening supply. Rigid downstream demand, export order lock-ins, and a boost from industry conferences jointly drove magnesium prices higher. Offshore quotations were adjusted in line with ex-factory prices, and although bidding-based shipment prices were low at the beginning of the week, they rebounded later, while new orders declined. Magnesium powder remained firm, supported by higher magnesium ingot prices, while increased operating rates at magnesium plants ensured supply and both domestic and overseas demand recovered. The magnesium alloy market also stayed strong, with stable operating rates at top-tier enterprises, new capacity coming on stream, and downstream end-use demand being released, supported by ample orders and a supply-demand balance.

[SMM Titanium Express] LB Group's Jiaozuo Sc-V New Materials Industrial Park Phase I project has commenced production, with annual capacity of 2,500 tonnes of high-purity V₂O₅ and 20,000 m³ of vanadium electrolyte. Total investment is 1.08 billion yuan across three phases. Full completion is expected to generate 1.767 billion yuan in annual revenue. Leveraging its vanadium-titanium magnetite and TiO₂ by-product resources, LB Group is accelerating its vanadium electrolyte value chain.