LB Group Raises TiO2 Prices by 500 Yuan/mt Domestically and $70/mt Overseas from Aug 18

During China’s 2026 National Day holiday, overseas molybdenum prices were stable before firming. Busan 57% molybdenum oxide indications rose to $33.25–33.40/lb Mo on October 7, although higher levels await transaction confirmation. Ferromolybdenum trading remained subdued. Accidents and labour disruptions at Chilean mines increased supply uncertainty, but no measurable losses were confirmed. SMM expects prices to remain elevated and rangebound after the holiday......

[Supply Continues to Release but Demand Remains Weak, Magnesium Ingot Under Pressure] Quotes for magnesium ingot in China's main production areas continued to decline today. Producers showed strong willingness to sell and recoup funds, with supply continuing to release. However, end-use demand in China and overseas remained sluggish, with only rigid-demand transactions concluded. Market sentiment was largely wait-and-see, and inventory pressure mounted. Overall, the market was weak and under pressure ahead of the holiday.

【SMM Magnesium Flash】On October 1st, Latrobe Magnesium released an updated project status, indicating that the installation progress of its Phase 1B demonstration plant in Victoria has reached 90%, marking a significant increase from 70% at the end of August. Overall commissioning is 25% complete, with successful dry test runs of the ball mill and briquetting machine. Key installation activities in the reduction furnace area have been completed, and vacuum testing is currently underway for 30 sets of distillation tanks and condenser components. The company maintains its target of producing the first batch of magnesium metal (purity >98%) by the end of 2026, and project expenditures are being controlled within the original budget of AUD 6.1 million. As the demonstration line gradually commences production, its low-carbon process route for extracting magnesium from lignite ash is expected to undergo industrial verification.