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.

Appian Capital Advisory acquired a 95% controlling interest in the Omitiomire copper project in Namibia. The project is expected to require approximately $400 million in development funding, with a mine life of 15 years and annual production of approximately 300,000 mt of copper. The company plans to switch the process from leaching to flotation and has initiated negotiations on future offtake arrangements. Appian stated that against the backdrop of constrained new supply, the project represents a rare near-term opportunity to bring new production to market. Technical due diligence has identified multiple value creation pathways, and the project will be advanced in a responsible and efficient manner.

[SMM Magnesium Express] At the recent Turkmen-Chinese business forum in Ashgabat, China's Shaanxi Yulin Energy Group proposed establishing a magnesium alloy production project in Turkmenistan. The project aims to combine Turkmenistan's raw material base with the company's technological expertise to create new production capacity and expand bilateral cooperation in resource processing and industrial development.

A Chinese energy and chemical firm plans to build a magnesium alloy project in Turkmenistan, leveraging local resources and Chinese technology. Meanwhile, Brazil sharply raised anti-dumping duties on Chinese magnesium ingots to $4.07/kg, effectively closing direct export channels.

As major global technology companies rush to buy memory chips, SK Hynix is being actively courted by these companies, which have proposed plans to invest in its new production lines and finance the purchase of expensive manufacturing equipment. According to six people familiar with the matter, the company's clients have presented multiple partnership proposals to the South Korean chipmaker, including investing in the construction of dedicated memory production lines. Three other people familiar with the matter said another proposal involves clients providing financing for equipment purchases, such as ASML's extreme ultraviolet lithography machines. These machines are used to etch circuits on wafers and are worth hundreds of millions of dollars. The chipmaker is reportedly cautious about accepting financial commitments from clients, as such deals could make it beholden to specific buyers and force it to supply chips at lower prices in exchange for longer-term, more stable revenue guarantees.

Ned Marine has relocated and rebranded its aluminium manufacturing division - formerly known as MTQ Products - to a new production facility at Damen Shiprepair Rotterdam in the Botlek area. Operating under its new name, Ned Marine Alucon, the facility designs and builds certified aluminium gangways, bridges, cruise window wash systems, and access structures for the maritime, offshore, and civil engineering industries.

[SMM Steel] ArcelorMittal Nippon Steel India has launched a new production line at Hazira, Gujarat, to produce advanced high-strength steel (AHSS) for the automotive sector. The line has 2 mln t capacity and is part of a $6.31bn expansion, aiming to boost domestic supply and reduce import reliance.

Nissan plans to invest $45 million in 2026 to expand its auto production in Egypt, aiming to boost local output by about a third and increase exports across African markets. The project includes a new production line with an annual capacity of at least 10,000 vehicles. Nissan Africa's Managing Director stated that over half of the components for the added capacity will be sourced locally. Currently, Nissan's plant west of Cairo produces approximately 30,000 vehicles annually.

On April 8, 2026, the groundbreaking ceremony for the "Aluminum Precision Forging Technology Upgrade and New Production Line Expansion Project" of Haian Jinduan Industrial Co., Ltd. was successfully held. The project will construct a new intelligent factory building of approximately 5,200 square meters, fully introduce advanced production equipment and intelligent management systems, and achieve an automation level of over 80%.

Acciaierie Bertoli Safau, the steelmaking division of Italy's Danieli Group, has officially commenced construction on a €400 million Hybrid Digital Green Plant. The new production line features an estimated annual capacity of 730,000 metric tons and integrates 12 proprietary steelmaking innovations, ranging from endless continuous scrap charging to advanced secondary metallurgy. This flagship facility is part of an €817 million broader industrial plan aimed at reducing overall carbon emissions by 30% and increasing the group's total capacity to 2.1 million metric tons by 2030.