[SMM Daily Chrome Commentary: Production Cuts and Maintenance Tightened Supply, While Elevated Costs May Have Led to Losses] March 19, 2026: Chrome ore prices continued to rise, while ferrochrome quotations remained unchanged...

[SMM Magnesium Express] Russia's Solikamsk Magnesium Plant has commenced industrial production of magnesium alloys containing rare earth metals including neodymium, cerium and lanthanum. The lightweight, high-strength alloys target aerospace, automotive, energy and oil & gas applications, reducing structural weight and improving equipment efficiency. Operating since 1936, the plant now produces 75% of Russia's magnesium.

Zangge Mining has released its 2026 operational targets, highlighting significant expansions in lithium carbonate production. The company is advancing a 6,000-ton/year expansion at the Chaerhan Salt Lake, which will bring its total capacity there to 16,000 tons/year. Meanwhile, the highly anticipated Mamicuo Salt Lake project (Phase I: 50,000 tons/year) is scheduled to commence production in Q3 2026. Additionally, the Mamicuo Mining entity, in which Zangge holds a 26.95% indirect stake, plans to produce 20,000 to 25,000 tons of lithium carbonate in 2026, bolstering the company's equity resource portfolio.

Rusal's financial report showed that, affected by its capacity optimization plan, full-year 2025 primary aluminum production fell 1.9% YoY to 3.918 million mt (2024: 3.992 million mt). Alumina production, meanwhile, rose 6.7% YoY to 6.858 million mt. In addition, benefiting from the Guinea expansion project and increased equity interests in refineries in China and India, bauxite production increased 16.2% YoY to 18.453 million mt.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,714.5/mt and climbed to $12,715/mt at the start of the session. Copper prices then saw the center move straight downward, before fluctuating rangebound and eventually closing at $12,340/mt, down 3.44%. Trading volume reached 33,600 lots, and open interest stood at 288,300 lots, down 4,872 lots from the previous trading day, mainly due to long position liquidation. Overnight, the most-traded SHFE copper 2605 contract opened at and touched a high of 98,000 yuan/mt, after which the center of copper prices moved straight downward to a low of 95,920 yuan/mt, then fluctuated upward and finally closed at 96,340 yuan/mt, down 2.58%. Trading volume reached 103,000 lots, and open interest stood at 198,000 lots, up 9,911 lots from the previous trading day, mainly due to increased short positions.

On the evening of March 18, 2026, at Chery Automobile Battery Night 2026 in Wuhu, Anhui, Chery unveiled its Rhino all-solid-state battery technology. It had completed the development and pilot production of a 60Ah, 400Wh/kg all-solid-state battery cell and was advancing toward an ultra-high energy density of 600Wh/kg.

[SMM Newsflash] According to the announcement of Wuxi Yoshioka Precision Technology Co., Ltd., to implement the company’s international development strategy and accelerate its expansion into markets outside China, the company, together with its wholly owned subsidiary Yoshioka Seiki Co., Ltd., increased capital in its wholly owned subsidiary YOSHIOKA SEIKI (THAILAND) CO., LTD. to build a Thailand production site, with a view to developing the Southeast Asian market and responding to order demand from clients outside China.

[SMM Express] According to XPeng Motors, on March 13, the first car model jointly developed by Volkswagen and XPeng Motors—Yuzhong 08—officially rolled off the mass production line at Volkswagen Anhui in Hefei. It took the two parties only 24 months from signing the joint development technical cooperation agreement to mass production rollout. In 2023, Volkswagen Group and XPeng Motors reached a long-term strategic partnership, focusing on product development and technological innovation and jointly developing two pure EV models. The mass production rollout of the first jointly developed car model marked the delivery of tangible results from the technical cooperation between the two sides. Following Yuzhong 08, the second model jointly developed by the two parties will also be launched this year.

According to the China Coal Transportation and Distribution Association, in early March, production by key monitored coal enterprises reached 64.44 million mt, with daily average production of 6.44 million mt. The 10-day daily average increased by 380,000 mt, up 6.3% MoM from late February, and by 90,000 mt, up 1.4% YoY.

Chile’s state-owned copper giant Codelco has reported a sharp drop in production to start this year, leading copper industry analysts and former Codelco executives to question its reports of surging output at the end of 2025 that helped the company meet its annual production target.