Latest Update in the SMM Tungsten Market

SMM Bismuth Spot Weekly Review: Bismuth Prices Experienced a Correction. SMM, March 28: This week, the bismuth market prices experienced a correction. As the week approached month-end, market transactions noticeably cooled down. Manufacturers are still striving to maintain bismuth shipment prices, but based on transaction data, bismuth transaction prices showed a correction trend, albeit with a relatively small magnitude. By the end of the week, the mainstream prices for SMM bismuth ingots were 152,000-154,000 yuan/mt.

SMM Commentary: Concerns Over Tight Spot Supply Resurface, How Will Magnesium Prices Perform After a Single-Day Surge of 2.55%? Due to the deployment of inspections on bulk industrial solid waste storage sites in multiple regions and the approaching environmental protection maintenance in April, market concerns have been raised about the increased costs and disrupted production schedules caused by the need to treat magnesium slag before disposal. Concerns over tight spot supply have resurfaced, with magnesium producers showing a strong sentiment to stand firm on quotes and unwilling to sell at low prices. Magnesium prices have surged significantly, leading to panic inquiries from downstream traders. With generally low inventory levels among magnesium enterprises, many companies have had to restock at high prices to maintain orders.

SMM Commentary: Concerns Over Tight Spot Supply Resurface, How Will Magnesium Prices Perform After a Single-Day Surge of 2.55%? Due to the deployment of inspections on bulk industrial solid waste storage sites in multiple regions and the approaching environmental protection maintenance in April, market concerns have been raised about the increased costs and disrupted production schedules caused by the need to treat magnesium slag before disposal. Concerns over tight spot supply have resurfaced, with magnesium producers showing a strong sentiment to stand firm on quotes and unwilling to sell at low prices. Magnesium prices have surged significantly, leading to panic inquiries from downstream traders. With generally low inventory levels among magnesium enterprises, many companies have had to restock at high prices to maintain orders.

On March 21, CMOC released its performance report. The report showed that in 2024, the company's operating revenue exceeded 200 billion yuan for the first time, reaching 213.029 billion yuan, up 14.37% YoY. Its net profit attributable to the parent company surpassed 10 billion yuan for the first time, reaching 13.532 billion yuan, up 64.03% YoY. In 2024, the production of the company's main products, including copper, cobalt, niobium, and phosphate fertiliser, all reached record highs.