This week, the tungsten market showed a divergent trend with mild corrections in domestic prices and a contrarian rise in overseas APT prices. Domestic tungsten concentrate and midstream product prices remained relatively firm, while scrap tungsten prices dropped sharply as profit-taking emerged. Supported by a tight supply-demand balance, overseas markets strengthened, further widening the price gap between domestic and international markets.

On March 23rd, a new material company in Shandong initiated the first public participation notice for the environmental impact assessment of its 500-ton-per-year PPVE project (technical transformation). On March 19th, a public notice for the draft environmental impact assessment was released for its trifluoroacetyl fluoride deep processing pilot project. The project’s main components include the construction of one set of trifluoroacetyl fluoride deep processing pilot equipment, comprising one pilot production line for ethyl trifluoroacetate and one for carbonyl fluoride. The pilot scale is 500 tons per year for ethyl trifluoroacetate and 500 tons per year for carbonyl fluoride, with a maximum pilot period of two years.

[SMM Titanium Weekly Review: Cost-Driven Titanium Dioxide Price Hikes Took Effect, Market Adjustments Released Upward Signals] This week, the titanium industry chain showed a divergent trend. The titanium concentrate market remained in the doldrums, with imported ore prices falling लगातार under pressure from downstream efforts to push for lower prices and accumulating port inventory. Titanium dioxide, meanwhile, saw the second round of collective price adjustments in mid-month under persistently high sulphuric acid costs. Mainstream enterprises in China raised domestic prices by 500 yuan/mt and export prices by $100/mt, pushing the quoted center up to 14,000-14,500 yuan/mt, though follow-up from domestic demand remained mediocre and foreign trade orders showed clear divergence. The titanium slag market stayed in the doldrums, with prices under pressure amid weak costs and demand. In the titanium sponge market, leading enterprises took the lead in raising prices, with domestic prices up 2,000 yuan/mt and international prices up $300/mt. Supported by restocking demand for titanium materials and low inventory, the market showed a strong willingness to hold prices firm, but downstream processing segments still maintained a wait-and-see stance, and titanium ingot and titanium plate/strip prices only edged up slightly. Overall, cost support and structural demand divergence coexisted, and future price trends still depended on substantive improvement on the supply and demand side.

TrendForce stated that the two major wafer foundries, TSMC and Samsung Electronics, had increased prices for the most-traded advanced 5/4nm processes used for AI chips. At TSMC, capacity at the 5/4nm, 3nm, and 2nm periods will remain fully utilized, and toll processing prices for these processes have been increased across the board; meanwhile, order volumes for Samsung Foundry's 5/4nm processes also increased significantly, prompting it to issue price hike notices to clients in Q4 2025.

[SMM Silicone Weekly Review: The Center of Market Transactions Shifted Slightly Lower, and Downstream Wait-and-See Sentiment Increased] This week, the quotation range for mainstream quotations in China’s silicone DMC market was 13,800-14,300 yuan/mt, down 100 yuan/mt WoW. Overall market trading sentiment remained weak, with increased back-and-forth negotiations between upstream and downstream. As raw material support still persisted, midstream players remained cautious in procurement sentiment, and wait-and-see sentiment in the market was strong.

On March 14, 2026, the Interdepartmental Commission on International Trade of Ukraine issued a notice stating that, pursuant to Resolution No. AD-598/2026/441-01 of the Commission dated March 10, 2026, it had made an affirmative final ruling in the third sunset review of the antidumping measures on steel wire ropes and cables originating in China, and decided to continue imposing antidumping duties on the products concerned for another five years at an unchanged rate of 123. The period of investigation in this case was from January 1, 2022 to March 31, 2025. The Ukrainian tariff codes of the products concerned were 7312 10 49 00, 7312 10 81 00, 7312 10 83 00, 7312 10 98 00, and 7312 10 65 00. The measures took effect from the date of publication of the notice. On August 17, 2007, Ukraine initiated an antidumping investigation into steel wire ropes and cables originating in China. On July 23, 2008, pursuant to Resolution No. AD-183/2008/143-48 of the Ukrainian Commission, Ukraine began imposing antidumping duties on the Chinese products concerned. Thereafter, Ukraine conducted two sunset reviews, and made affirmative rulings and extended the duty period on September 19, 2014 and May 28, 2020, respectively. On August 24, 2022, the Interdepartmental Commission on International Trade of Ukraine issued a notice amending the product description of Chinese steel wire ropes and cables as determined in Resolution No. AD-183/2008/143-48 dated July 23, 2008. Upon application by a Ukrainian producer, and pursuant to Resolution No. AD-582/2025/441-01 of the Commission dated May 21, 2025, Ukraine initiated the third sunset review investigation of the antidumping measures on the Chinese products concerned. (Compiled from: Ukrainian Government Website) Source: https://ukurier.gov.ua/uk/news/povidomlennya-201/

[SMM Silicon-Based PV Morning Briefing] Polysilicon: The quoted price for N-type recharging polysilicon was 42-49 yuan/kg. Polysilicon prices continued to decline recently, mainly affected by wafer price cuts and market sentiment. At present, low-priced polysilicon has already fallen below the cost line of some manufacturers, and the willingness to hold quotes firm has strengthened somewhat. The upstream market was also still watching wafer price moves. Wafer: In the market, 18X wafer prices were 1.00-1.05 yuan/piece, 210RN wafer prices were 1.1-1.15 yuan/piece, and 210N wafer prices were 1.3-1.35 yuan/piece. Wafer prices remained stable. Current selling prices have already fallen below cash cost, so the likelihood of another sharp price cut was relatively small.

[SMM Titanium Spot Update: High Costs Drive a Second Titanium Dioxide Price Increase Within the Month, While Diverging Domestic and External Demand Tests the Sustainability of the Hike] In mid-March, titanium dioxide enterprises in China collectively issued a second round of price increase notices within the month, raising domestic prices by 500 yuan/mt and export prices by $100/mt, mainly because elevated sulphuric acid prices forced cost pass-through. At present, enterprises are operating at full capacity, but mediocre domestic demand and foreign trade constrained by geopolitical factors have intensified market divergence. Expectations of tighter sulphuric acid supply still support confidence to hold prices firm, but the sustainability of the price increase remains to be verified by follow-up demand.

[SMM Silicone Weekly Review: Downstream Procurement Sentiment in the Silicone Market Remained Cautious, and New Order Transactions Were Relatively Weak] After completing the price increase last week, quoted prices generally remained stable this week, but actual market transactions were relatively weak. Cost side, affected by geopolitical developments, raw material methanol prices held up well, which also provided some support for silicone DMC prices. However, subsequent impacts and changes still require close attention to the extent of raw material price fluctuations and the duration of their effects.

New 1 Gwh Annual Battery Pack Project Added in Jiangsu The Yandu Ecological Environment Bureau of Yancheng City issued a public notice stating that the environmental impact assessment documents for the industrialisation project of a new energy battery system (with annual output of 1 Gwh of battery packs) had been approved. The project is located at No. 12, Group 3, Yuema Residents’ Committee, Yanlong Subdistrict, Yandu District, Yancheng, Jiangsu Province. The developer, Yancheng Baigu Energy Technology Co., Ltd., is expected to invest 30 million yuan to build the new energy battery system industrialisation project using existing premises. Upon completion, the project will have annual battery pack capacity of 1 Gwh.