Post-Holiday Silicon Metal Market Overview

[SMM Express] South Africa's ferrochrome exports fell 44.57% year-on-year as of June 2026, driven largely by extended smelter suspensions at Wonderkop and Boshoek. Against that backdrop, two developments elsewhere in the global ferrochrome market this year point to a supply base actively reconfiguring around Kazakhstan and Europe. In January 2026, Albania's ALBCHROME began a capacity expansion and modernization of its ferrochrome smelting facilities, aimed specifically at capturing rising demand from European stainless steel manufacturers. The timing aligns with the EU's Carbon Border Adjustment Mechanism, in effect since January 2026, which favours suppliers with shorter transport distances and lower embedded carbon footprints — criteria that structurally favour a European supplier like Albania over South Africa. Separately, in March 2026, Glencore proposed backing Kazakh businessman Shakhmurat Mutalip's $1.4 billion bid for a 40% stake in Eurasian Resources Group (ERG), one of the world's largest ferrochrome producers via its Kazchrome subsidiary, offering an $800 million upfront pre-payment in exchange for future ferrochrome shipments. Glencore's move is notable given the company's own deep stake in South African ferrochrome through the Glencore-Merafe Chrome Venture, pointing to diversification of its ferrochrome supply exposure beyond South Africa. With Kazakhstan's Bolashak mine continuing to ramp toward 7.5 million tonnes/year of chrome ore capacity and Albania positioning to serve Europe directly, South African producers face a more competitive global landscape by the time domestic smelting capacity is fully restored, rather than an unchanged market to return to.

[Ore Side: Overseas Market Strong, Spot Steady; Inquiries Recover but Transactions Need to Follow Up] August 11, 2026 – Ferrochrome and chrome ore markets fluctuated slightly...

[SMM Express] Rubaya mining area in North Kivu of the Democratic Republic of Congo (DRC), remains one of the world’s most important sources of coltan, but its strategic importance is matched by significant supply-chain risks. The site has been under the control of the M23 armed group since 2024, with mineral revenues reportedly contributing to the financing of the conflict. Rubaya is estimated to account for a significant share of global coltan supply, making developments there relevant to the wider tantalum market. The situation also highlights the difference between coltan and cobalt risks in the DRC. While cobalt production is concentrated in the southern Copperbelt and is increasingly subject to formalisation and traceability initiatives, coltan from eastern DRC faces a more direct conflict-financing and territorial-control risk. Cross-border movement of minerals through Rwanda has further complicated origin verification and supply-chain due diligence. For buyers, traders and investors, the key issue is therefore not simply whether material comes from the DRC, but where it was mined and who controls the supply chain at the point of extraction. With Rubaya remaining strategically important to global tantalum supply, verified origin, chain-of-custody controls and conflict-risk due diligence will remain critical when sourcing coltan from the region.