Latest Update in the SMM Manganese Market

Due to the increase in material prices such as cobalt powder, Zhangyuan Tungsten Industry will adjust the prices of some cemented carbide and hardfacing material products from April 1st. According to Chongyi Zhangyuan Tungsten Industry Co., Ltd., on March 26th, Zhangyuan Tungsten Industry issued a notice regarding the adjustment of product prices. The rise in material prices, including cobalt powder, has significantly increased the company's production costs. To ensure the sustainable development of our company and to better provide long-term services to our customers, the company has decided to implement new prices for some cemented carbide and hardfacing material products starting from April 1st, 2025. For specific business inquiries, please contact the company's sales personnel.

Lubei Chemical: 2024 Net Profit Up 157.28% YoY, Titanium Dioxide Product Sales Revenue Increases Lubei Chemical recently released its 2024 annual report, showing that the company achieved operating revenue of 5.7463987 billion yuan in 2024, an increase of 752.2454 million yuan, up 15.06% YoY, with the main increase coming from titanium dioxide product sales revenue, which rose by 14.64%. Methane chloride product sales revenue increased by 32.72%. The company achieved a total profit of 423.4714 million yuan, up 129.60% YoY, and net profit attributable to shareholders of the publicly listed firm.

SMM Flash: Humanoid Robot Sales Surge Boosts Rare Earth Permanent Magnet Concept, Myanmar Mine Clearance Imminent, Spot Rare Earth Under Pressure. According to CCTV Finance, humanoid robot producers are overwhelmed with orders, overseas tech bloggers are enamored with domestic robots, and the anticipated demand for humanoid robots is driving the rare earth permanent magnet concept higher. Additionally, the expected continuous growth in demand for rare earth permanent magnet materials from downstream industries such as NEVs, along with sector valuation recovery, led to a rise in the rare earth permanent magnet concept on March 26. By the close of the 26th, the rare earth permanent magnet concept index rose by 1.89%, with stocks like Yujing Technology, Huahong Technology, and Tianhe Magnetic Materials hitting the limit up.

【Development Progress of the Speewah Vanadium Mine Project in Western Australia】Tivan successfully produced high-purity vanadium electrolyte at its Speewah vanadium mine project in the Kimberley region of Western Australia, just days after beneficiation tests helped optimize the flotation process for its adjacent fluorite resources. The Speewah vanadium ore was first roasted with salt to produce vanadium pentoxide, demonstrating electrochemical performance nearly identical to commercial samples, meeting the battery-grade standards of Japan's Sumitomo Corporation.

SMM Analysis: Cost Increases, Relatively Small Inventory Pressure, and Export Growth Lead to Third Round of Price Hikes by Multiple TiO2 Producers Affected by high titanium concentrate prices and rising raw material costs such as sulphuric acid; from the supply perspective, TiO2 production saw a slight MoM decline in January and a slight MoM increase in February, with no significant growth in TiO2 supply. The inventory pressure for TiO2 producers remained relatively small. Additionally, there was a notable YoY increase in TiO2 exports in February. Influenced by these fundamental factors, multiple TiO2 producers including LB Group issued their third round of price adjustment letters for the year.

Annada: Intensified Competition in Titanium Dioxide and Iron Phosphate Markets, Net Profit Down 82.5% YoY in 2024 Annada announced its 2024 annual report on March 22, showing that in 2024, the company achieved a revenue of 1.89 billion yuan, down 10.6% YoY; net profit attributable to shareholders was 11.26 million yuan, down 82.5% YoY. In 2024, the company produced a total of 94,400 mt of titanium dioxide (including 93,400 mt of rutile and 1,000 mt of anatase), completing 94.45% of the annual plan; it also produced 66,600 mt of iron phosphate, achieving 55.48% of the annual target.