Saudi power and water company ACWA Power is nearing full certification for its 4.4 GW green hydrogen and ammonia production hub in Yanbu after a pre-certification assessment by LBST and a TÜV SÜD audit confirmed it meets European standards for renewable fuels of non-biological origin (RFNBO). Developed in collaboration with German utility EnBW, the Yanbu hub will utilize up to 10 GW of renewable capacity and a 400 km transmission line to power 4.4 GW of electrolysers, ultimately producing 2.5 million tonnes of green ammonia (equivalent to 400,000 tonnes of green hydrogen) annually for export.

Canada's Sherritt International was suspended from trading on May 21 after the Ontario Securities Commission issued a cease trade order over delayed Q1 financial filings. The company had already suspended direct participation in its Cuban joint ventures following a May 1 US executive order broadening sanctions on entities doing business in Cuba, with particular focus on mining. Sherritt operates nickel and cobalt assets in eastern Cuba and a refinery in Alberta, and had briefly halted Cuban operations in February due to fuel shortages. Analysts warn the sanctions could further deter foreign investment in Cuba's nickel and cobalt sector, as the country faces acute fuel and power disruptions following reduced Venezuelan oil supplies and tighter US enforcement through 2026.

【SMM Steel】Hoa Phat now generates ~90% of its production electricity internally, keeping grid reliance at 10% for backup. Deputy Director Nguyen Do Dung said using waste heat and gases for power cuts costs by trillions of Vietnamese dong annually without consuming fossil fuels. The group also integrates energy-efficient equipment and recycles saturated heat across its major steel complexes. Hoa Phat plans to install 100 MWp of rooftop solar systems by year-end, including a 79.2 MWp project at Dung Quat.

The ex-China rare earth market this week exhibited a trend of "falling prices amid tight supply," with Pr-Nd oxide and metal prices generally marked down by approximately $5-10/kg. However, due to export controls and tightening supply, the premium on Chinese products outside China remained significant. Meanwhile, geopolitical rivalry and supply chain restructuring accelerated, with G7 finance ministers calling for urgent reduction of dependence on China and the establishment of recycling quota systems. On the capital front, Greenland Resources spent $35 million to acquire the high-grade Sarfartoq project to strengthen its magnetic material rare earth portfolio. Australia's Arafura officially finalised the final investment decision for the Nolans project. Combined with Brazil's launch of an antitrust investigation and Germany's Heraeus divesting its recycling business, these developments underscored the urgency of global decoupling and localization efforts.

As a key fundamental material supporting the stainless steel and new energy battery industries, electrolytic manganese is standing at a critical industrial transformation stage. Driven by tightening environmental policies, accelerating technological iteration, steady traditional demand and booming new energy consumption, the industry features shrinking supply, structural optimization and rising price center, with its strategic value growing increasingly prominent.

SMM May 15 News: In May 2026, the global molybdenum market remained in a persistently tight supply-demand pattern, with prices extending and accelerating the upward trend seen in April. International molybdenum oxide prices kept surging at high levels, while domestic molybdenum concentrate and ferromolybdenum prices repeatedly hit new stage highs.