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

During China's 2026 National Day holiday, the overseas molybdenum market showed an overall pattern of stability followed by gains. Prices for 57% molybdenum oxide at Busan Port consolidated in a narrow range from October 1 to 6, and by October 7, sellers' indications had moved up to $33.25-33.4/lb Mo, though the high end still awaited confirmation from actual transactions. European ferromolybdenum saw sporadic DDP deals, but overall inquiries and trading remained inactive, while the Asian market continued to be sluggish. During the same period, a fatal accident occurred at the Radomiro Tomic mine in Chile, and a formal strike began at the Centinela mine, further increasing uncertainty in overseas molybdenum raw material supply, though no quantifiable reduction has yet materialized. SMM expects that overseas molybdenum prices may continue to consolidate at highs after the holiday, with the subsequent trend mainly depending on...

[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.