According to data from China Customs: Combined for January–February 2026, China imported 265,100 metric tons of high-carbon ferrochrome in total, a year-on-year decline of 51.6%. Breakdown by origin: imports from South Africa were 40,700 metric tons, down 83.3% year-on-year; imports from Kazakhstan were 158,400 metric tons, down 19.7% year-on-year.

Australian mining company BHP has released its operational report for Q1 2025 (Q3 of the 2025 Australian fiscal year), which indicates the following: Production: BHP's iron ore production in Q1 2025 was 67.844 million mt, down 7.2% MoM and 0.4% YoY. The main reasons for the decline include the short-term impact of tropical cyclones "Zelia" and "Sean," the phased adverse effects of the railway technology project (RTP1) connection operations, and ongoing production cuts due to the depletion of Yandi resources. Despite these challenges, BHP has maintained its production targets by optimizing production efficiency and structural growth momentum. For example, the Central Pilbara Hub completed capacity ramp-up at the South Flank mine, coupled with optimized handling after the completion of the port debottlenecking project, resulting in a 13% YoY improvement in supply chain efficiency, which became a key driver of production growth. Among them, Mining Area C and Jimblebar mine stood out, with production increasing by 11.8% and 3.4% YoY, respectively, fully reflecting the effectiveness of new capacity releases and operational optimizations. However, the main Newman mine area experienced a 20.2% YoY decline in production due to weather disruptions and a decline in ore quality. Meanwhile, BHP's production resumptions at its Samarco joint venture in Brazil have exceeded expectations since the restart of the second beneficiation plant in December last year. In Q1, iron ore pellet production increased by 11.1% MoM and 39.3% YoY. Based on current progress, Samarco is expected to achieve its annual production capacity target of 16 million mt of pellets ahead of schedule by the end of June this year. BHP has maintained its annual production guidance for Samarco at 5-5.5 million mt (on a 50% equity basis) in its latest quarterly report, but expects actual production to be closer to the upper end of the range. Shipments: BHP's iron ore sales in Q1 2025 were 66.765 million mt, showing a dual decline: down 8% MoM and 4.3% YoY. Among them, fines sales were 40.412 million mt, down approximately 8.2% MoM, and lump sales were 18.822 million mt, down approximately 7.4% MoM. In addition, as of the end of Q1 2025, BHP's production for the 2025 fiscal year was 213 million mt, up 1.1% YoY. BHP's WAIO fiscal year production guidance target remains unchanged at 282-294 million mt (on a 100% basis). Financials: In Q1, FMG's C1 cash cost was $17.53/wmt (based on Pilbara hematite), down 4% MoM and 7% YoY. Furthermore, the shipment target guidance for the 2025 fiscal year is 190-200 million mt, with a C1 cost target of $18.5-19.75/wmt (based on Pilbara hematite).

[SMM Chrome Daily Review: Costs Become the Core Support, Demand Recovery Is Expected to Be Bullish] News on March 9, 2026: Ferrochrome quotations saw no adjustments for the time being, while spot chrome ore quotations rose slightly…

[BHP's Copper Production Rose 17% in Q4 Last Year, Iron Ore Production Increased Slightly] According to Mining.com citing Reuters, BHP Group announced on Tuesday that its iron ore production increased slightly in Q4 last year, while copper production surged by 17% due to improved operations at the Escondida copper mine in Chile.

South Africa's Eskom applied to the energy regulator for approval of an interim electricity tariff, offering an 87 cents/kWh preferential rate for Samancor Chrome and the Glencore-Merafe Chrome joint venture. This is a temporary measure aimed at maintaining smelter operations, while parties continue to negotiate a longer-term solution with the goal of further reducing the tariff to 62 cents/kWh. The utility also requested the National Energy Regulator of South Africa to extend the "take-or-pay" obligation exemption for the two enterprises by another 12 months. The exemption pertains to obligations under pricing agreements negotiated with Eskom that took effect in 2024. These agreements stipulate that ferrochrome producers must meet at least 70% of their contracted electricity consumption; however, due to the industry's loss of competitiveness and multiple smelter shutdowns, this condition can no longer be fulfilled. In August last year, Samancor Chrome and the Glencore-Merafe Chrome JV cited operational difficulties arising from these clauses, prompting the regulator to approve a six-month exemption, which is set to expire at the end of January. Eskom's distribution unit head, Gugulethu Dumakude, acknowledged that the interim tariff of 87 cents/kWh is still not enough to restore ferrochrome producers to the production levels envisaged in the pricing agreements, but it would help them slightly increase electricity consumption from current levels. She added that this interim tariff, combined with the "take-or-pay" exemption, would also provide Eskom and the Department of Mineral Resources and Energy with buffer space to finalise a more sustainable electricity pricing solution with the ferrochrome industry. Neels Best, President of the South African Ferroalloy Producers Association, confirmed that the industry needs a tariff of 62 cents/kWh to resume production and avoid the Section 189 retrenchment processes already initiated by several ferroalloy enterprises, including those outside the ferrochrome sector. Therefore, he also argued that the final negotiated solution should not be limited to the ferrochrome industry but should extend to manganese, silicon, and vanadium smelters—all of which are facing operational difficulties due to "escalating electricity prices." Best pointed out that only 4 of South Africa's 48 electric furnace ferrochrome smelters are currently operating; likewise, only 4 of the 19 smelters in other ferroalloy sectors remain in production. He stated, "Today, electricity costs account for 40% to 60% of total production costs in the ferroalloy industry. To sustain the sector, it is crucial to establish an internationally competitive electricity tariff." He also warned that without an electricity pricing policy that supports local mineral beneficiation, South Africa faces widespread deindustrialization and job losses. Theo Morkel, Managing Director of South Africa's Transalloys, further corroborated this view, sharing cost comparison data showing that even under the company's pricing agreement with Eskom, the electricity cost for producing SiMn is as high as $634/mt, far exceeding the international benchmark—where power costs for SiMn production range from as low as $147/mt to a maximum of $338/mt. Thus, Morkel said that while he supports immediately implementing the interim tariff relief for Samancor Chrome and the Glencore-Merafe Chrome JV, the rest of South Africa's ferroalloy industry equally urgently requires similar relief measures, as these sectors also face plant closures and job losses. Tengo Tengela, Trade and Industry Coordinator of the South African Federation of Trade Unions, also expressed support for the electricity tariff relief application, warning that if smelters are forced to shut down, around 300,000 direct and indirect jobs would be at risk. However, he called on the National Energy Regulator of South Africa to approve the application on the condition that the relevant enterprises suspend further retrenchment actions. The South African National Energy Regulator has not yet announced a decision timetable for this application, but Eskom has stated that the relevant approval must be issued by the end of February at the latest.

At the 2023 SMM 12th Metal Industry Annual Conference-SMM Metal Mining Forum co-sponsored by SMM, Chongqing Jiangjin District People's Government, and Shanghai Futures Exchange, Yu Hongnan, deputy general manager of PSEI Group, introduced the development of the four major international mining companies, China’s overseas joint venture iron ore projects and the advantages of Australian bauxite.

According to relevant information reports, after 2024, Ukrainian drones launched a series of attacks on Russian domestic oil facilities, and 13 refineries in nine regions of Russia were attacked 15 times.

[Global Cobalt Raw Material Production in 2024 Estimated at 270,000 mt, Will It Become a Bottleneck for Raw Materials? How Will Chinese Companies Respond?] The long-term bullish logic for cobalt prices has weakened, but the boom period of the new energy industry, 2025-2030, may trigger a temporary supply-demand mismatch. Attention should be paid to the progress of African infrastructure and the impact of alternative materials (such as LFP and lithium-rich manganese-based materials) on cobalt demand. (Battery Network)

Firstly, global NPI capacity and output, which show a gradual increasing trend in the future. Although，in the past，Indonesia had restrictive new production lines, but for declared production lines can be continue. Second, although NPI balance expected to be in a large surplus, the actual surplus may not be as large as expected, the main reason is that when a commodity is excess, the company will Slowdown the production.