[SMM Steel] MMK Metalurji, a subsidiary of Magnitogorsk Iron and Steel Works, has suspended production at facilities in Kocaeli and Iskenderun following worker strikes over delayed wage payments. Employees halted operations after agreed salary increases were not reflected in payrolls. Negotiations are ongoing, with the disruption potentially impacting Turkey’s flat steel supply.

Policy & Trends: India has exempted three types of stainless steel flat products from BIS certification until Sep 2026, easing import barriers. Japan’s Metal One fully acquired Thailand’s PSCTH to boost high-end exports. In Taiwan, China, traders tentatively raised 304 prices by NT$2,000/ton following mill hikes, though holiday trading remains quiet. Market Drivers: 304 spot prices hold at 14,350–14,400 RMB/ton, with Indonesia FOB at $2,082.5/ton. While Middle East tensions keep logistics and fuel surcharges high, providing a strong price floor, weak downstream demand is keeping the market in a narrow range-bound pattern for now.

Recently, Chengxin Lithium Group Co., Ltd. (002240.SZ) disclosed on the investor interaction platform that pre-construction preparations for the Murong Lithium Mine, located in Yajiang County, Sichuan Province, had been largely completed, and large-scale construction is expected to begin soon. This progress marked the entry of this lithium industry giant into the substantive development stage of “the largest hard-rock single lithium deposit proven in Asia to date.” The value of the Murong Lithium Mine was first reflected in its remarkable resource endowment. According to data from the Sichuan Mineral Resources and Reserves Review Center, the mine had identified cumulative ore resources of about 61.095 million mt, with lithium oxide (Li₂O) resources as high as 989,600 mt and an average grade of 1.62%. This resource scale made it indisputably the largest hard-rock single lithium mine in Asia, and its grade also ranked among the highest in Sichuan. The mine is located in the well-known Jiajika lithium-beryllium ore district, which forms part of the Songpan-Ganzi-West Kunlun giant lithium metallogenic belt spanning Sichuan, Qinghai, and other provinces and regions, and is known as the “Asian Lithium Belt.” The entire Jiajika ore field had identified total lithium oxide resources exceeding 2 million mt, making it one of the most concentrated regions for hard-rock lithium resources in China and even globally. The Murong Lithium Mine was designed for a production scale of 3 million mt/year, and its mining license is valid until September 5, 2048, providing assurance for long-term and stable mining operations. According to the company’s latest disclosure, the Murong Lithium Mine project had obtained project approval from the Sichuan Provincial National Development and Reform Commission (NDRC), as well as key approvals from departments including natural resources, ecology and environment, and emergency management covering land-use pre-examination, environmental impact assessment, and safety facilities design. Various pre-construction preparations had been largely completed. This means the project is expected to enter the stage of large-scale mine infrastructure and beneficiation plant construction soon. After the project is completed and put into operation, its annual raw ore processing capacity of 3 million mt will translate into considerable production of lithium concentrates, providing stable and high-quality raw material support for the company’s downstream lithium chemicals production sites in Deyang and Suining, Sichuan, as well as Indonesia.

On Feb 24, 2026, China placed 20 Japanese firms, including Subaru, on an export control watchlist for unverifiable end-use of dual-use items. This signals tighter controls on critical minerals and tech amid geopolitical and supply chain shifts. The analysis examines the firms' supply chain roles and the long-term industrial implications.

On February 24, 2026, China's Ministry of Commerce issued Announcement No. 12 of 2026, adding 20 Japanese entities, including Subaru Corporation, to the export control "watch list" on the grounds of "inability to verify the end-users and end-uses of dual-use items." This move marks the first time since January 2026 that China has explicitly implemented such list-based management measures targeting Japanese enterprises, signaling a shift toward more precise, systematic, and in-depth development of export controls in the fields of critical minerals and high-tech materials. This article will conduct an in-depth analysis of the core backgrounds of these 20 enterprises, reveal their deep-seated connections with supply chains of critical materials such as rare earths, and explore the potential impact of this measure on the future global industrial landscape.

【SMM Steel】Switzerland is seeking an exemption from EU's planned steel import protections. Officials held a special meeting with EU reps in Brussels last week. Switzerland says its steel does not cause overcapacity and is key for regional supply chains and Europe's industrial ecosystem. It also wants exemptions for certain manganese/silicon-based ferroalloy imports and raised concerns about potential EU scrap aluminum export restrictions.