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Utah paid $30 million for a bankrupt magnesium plant—but not the $100 million cleanup. Its toxic legacy seeps toward the Great Salt Lake, unpaid. Across the Atlantic, Austria’s LKR cracked magnesium’s code: alloy ZAX210 now shapes into wire for medical implants and 3D printing. Two faces of the same metal: one buried in liability, the other alight with possibility.

[SMM Magnesium Express] U.S. Magnesium's bankruptcy deepens. The plant, once responsible for 92% of Utah's toxic air emissions, left unlined ponds leaking dioxins & heavy metals into Great Salt Lake groundwater. It claims inability to pay >$100M cleanup costs while its billionaire-controlled parent Renco Group looks on. Utah acquired assets for $30M, but massive ecological restoration bill remains unresolved.

[ SMM Magnesium Morning Meeting Minutes: Magnesium Market Closes Steadily Before Holiday, Transactions Turn Sluggish Awaiting Post-Holiday Restart ] February 12, raw material side: dolomite and ferrosilicon prices remained unchanged from the previous working day. Magnesium ingot market quotations were stable, with mainstream transaction prices in the Fugu area maintaining at 16,350-16,450 yuan/mt. Approaching the Chinese New Year, supply-side enterprises' willingness to sell weakened, quotations were mainly stable, and logistics shipments slowed down significantly; domestic trade spot cargo transactions were sluggish, with only small amounts of just-in-time procurement, and transactions were mainly futures orders; in foreign trade, some forward orders for delivery by the end of March have started tenders. The ferrosilicon market benchmark price and processing fee both held steady, enterprise production was normal, downstream die-casting and end-user enterprises were gradually going on holiday, transactions tended to be mediocre, and supply-demand maintained a tight balance. The magnesium powder market operated steadily, enterprises' pre-holiday stockpiling was basically completed, production pace slowed down, domestic trade procurement wrapped up, logistics capacity declined, and the transaction atmosphere turned cold, with limited new orders in foreign trade. Overall, the magnesium industry chain entered a stable pre-holiday operation phase, prices of all varieties held steady, market trading tended to be sluggish, quietly awaiting post-Chinese New Year demand recovery and the landing of new orders.

[SMM Magnesium Express】Austrian research institutes are jointly developing new wire processing technology for ZAX210 magnesium alloy, combining twin-roll casting, continuous rotary extrusion, and wire drawing. The aim is to improve formability by optimizing microstructure and texture, expanding Mg alloy wire applications in medical and 3D printing fields.

[SMM Magnesium News] Gansu lists magnesium-based new materials as a strategic emerging industry. Its government work report proposes building a processing base for strategic mineral resources like magnesium, accelerating full-chain development of Pingliang’s 700-million-ton magnesite dolomite and boosting industry with new energy advantages. Pingliang actively responds, planning a 10-billion-yuan magnesium-based new materials cluster. In 2026, it will speed up transfer of magnesite dolomite exploration rights and pilot project construction. Kongtong District, with rich resources, closely cooperates with China Minmetals to promote magnesium smelting and alloy projects. Currently, its explored magnesite dolomite resources exceed 700 million tons.

[Ferromolybdenum Steel Tender Information] On February 11, SMM reported that a steel mill in Shandong issued a latest ferromolybdenum tender price of 268,000 yuan/mt (cash/acceptance/Tongbao), with a quantity of 30 mt.

SMM February 11 News: According to official information, Southern Nonferrous Metals Co., Ltd. of Nandan County is externally selling antimony ingots. The quality specifications comply with the national standard No. 2, implemented under (GB/T1599-2014). The goods are packaged on fumigated pallets, bundled with steel or plastic-steel straps, totaling approximately 200 tons.

SMM February 11 News: According to official information, Southern Nonferrous Metals Co., Ltd. of Nandan County plans to externally sell indium ingots today, with specifications: 99.995%; compliance standard: YS/T257-2009, approximately 1,000 kilograms. The quoted price is the tax-inclusive (13% tax rate) vehicle board delivery price at the factory of Southern Nonferrous Metals Co., Ltd. of Nandan County. Delivery location: Warehouse of Southern Nonferrous Metals Co., Ltd. of Nandan County. The seller is responsible for loading and weighing, while the buyer bears the freight cost. The deadline for this quotation is: 16:00 on February 12, 2026, after which it will be invalid.

SMM Feb 11: Market sources reported that a large smelter in northern China recently conducted a public tender for a certain quantity of indium ingots. Rumors suggest that the starting price for this batch of indium ingots was around RMB 4,000/kg, and the tender concluded successfully with a transaction price exceeding RMB 4,300/kg. Market participants indicated that although trading activity has relatively cooled as the Spring Festival approaches, the overall bullish sentiment toward indium prices remains unchanged. If the smelter’s tender results are indeed accurate, it is possible that indium prices may continue to rise after the holiday.

[SMM Tungsten Daily Review: Tungsten Market Rises on Long-Term Contract Price Increases Amid Pre-Holiday Shrinking Volume] SMM February 10 – Today, tungsten product prices maintained an overall upward trend. Approaching the Chinese New Year, factors such as production cuts at mines and stricter control over tax-exclusive business contributed to scarce circulation in the tungsten ore market, driving transaction prices up significantly. Last Friday, an enterprise in Luoyang auctioned 25% tungsten concentrate, with transaction prices concentrated in the range of 10,155–10,160 yuan/mtu. Shipments from other mines remained scarce ahead of the holiday.

Pre-holiday, titanium concentrate prices softened amid weak downstream demand, while titanium dioxide saw inventory draws and price support from exports and pre-holiday restocking. Sponge titanium stabilized with export-led growth. Post-holiday demand will guide price trends across the chain.

[SMM Magnesium Morning Meeting Minutes: Magnesium Market Holds Steady Pre-Holiday, Wait-and-See Sentiment Grows] February 10, Raw material side: Dolomite supply tightens as top-tier enterprises in Wutai area remain suspended, prices maintain a firm trend; ferrosilicon futures are in the doldrums, spot transactions sluggish, prices expected to continue consolidating narrowly. Magnesium ingot market offers hold steady, mainstream transaction prices in Fugu area remain at 16,350-16,450 yuan/mt, transactions mainly supported by domestic trade rigid demand and foreign trade March order stockpiling, market expectations for price declines weaken, recent market likely to continue fluctuating rangebound. Magnesium alloy market benchmark prices and processing fees both hold steady, downstream pre-holiday procurement pace slows down, supply-demand tight balance supports processing fees remaining firm. Magnesium powder market operates steadily, enterprises' pre-holiday stockpiling largely completed, both domestic and foreign trade demand show mediocre performance, transactions mainly rigid demand. Overall, pre-Chinese New Year, the market enters a stable wait-and-see phase, cost support and weakening demand counterbalance each other, prices across varieties are expected to see limited fluctuations before the holiday.

The tax-inclusive unit prices for Guangdong Xianglu Tungsten's long-term contracts in the first half of February 2026 are as follows: Unit price for black tungsten concentrate with a grade above 55%: 691,000 yuan per metric ton, up 135,000 yuan per metric ton MoM.