A new rare earth magnet recycling plant has been launched in the West Midlands, strengthening the UK’s position in rare earth recycling sector. The facility, developed by the University of Birmingham and officially opened on 15 January, focuses on separating and recycling rare earth magnets, helping reduce the UK’s dependence on imported rare earth materials, alloys, and magnets.

【SMM Steel】British Steel is expected to be fully nationalized within weeks. The UK government took over operations from China's Jingye Group in April 2025 to prevent the Scunthorpe plant's closure. Steel has been designated a national security industry. The Scunthorpe plant has the UK's last two blast furnaces. Operating costs hit £377m by Jan 2026. British Steel supports nationalization for stability. Any new owner must invest heavily in EAF technology to replace blast furnaces.

Strikes on Middle East 'LNG' infrastructure are affecting long-term 'PPAs' and battery energy storage system ('BESS') economics, according to Swiss firm Pexapark. Lead analyst Nicolas Briet noted that supply risks from Qatar have tightened European fundamentals, visibly impacting 'PPA' valuations. A 10-year solar pay-as-produced 'PPA' in the UK saw a 19% fair value increase. Despite improved economics, 'PPA' transactions may remain slow due to buyer caution and rising equipment costs linked to higher energy prices. Conversely, 'BESS' is directly benefiting from increased intraday volatility and wider price spreads. Pexapark also reported 30 new 'PPA' deals in February 2026, the highest monthly volume since February 2024.

According to market research, rising prices and global uncertainty drove Northern European buyers to increase procurement in March, despite stagnant end-user demand. Respondents noted a surge in purchasing activity from end-users, stockists, and distributors—particularly in Germany and the UK—aiming to secure material ahead of anticipated price hikes. However, market participants warn that this preemptive overbooking could result in significantly reduced sales volumes during the upcoming April holiday period and the second half of the year if genuine underlying demand fails to improve.

Cornish Tin Limited has closed its latest funding round at over £2.2 million, surpassing its initial target with a pre-money valuation of £29 million. Proceeds will fast-track exploration at the high-grade Great Wheal Vor and Tregonning South projects in Cornwall. With global tin prices recently hitting highs above $50,000/t and rising lithium demand for EVs, the company aims to secure a critical domestic supply chain for the UK and European technology and renewable energy sectors.

The UK government aims to strengthen cyber security regulations for its electricity and gas sectors following a recent attack on energy infrastructure in Poland. Highlighting the energy system as an 'attractive target' for adversaries, the government has launched an industry consultation on applying baseline cyber requirements—such as firewalls, access controls, and patch management—to all licensed energy organizations. Additionally, the thresholds for compliance with the stringent 2018 Network and Information System ('NIS') Regulations may be adjusted to cover a broader range of entities, including generators over 2 GW capacity. If expanded, more organizations will face increased compliance and security spending. Stakeholders have until May 22, 2026, to submit their views.

Danish wind turbine manufacturer Vestas plans to cut approximately 440 production jobs at its Lindo nacelle factory in Denmark, citing increased production efficiency and reduced takt time. The company is exploring redeployment options for affected employees within its 7,000-strong Danish workforce. This move follows a previous announcement to reduce its global office headcount by 900 positions by the end of 2025. Conversely, driven by strong offshore wind demand in the UK, Vestas has simultaneously announced plans to invest in a new nacelle and hub factory in Scotland.

SMM Nickel News, March 30: Macro and Market News: (1) "No Kings" rallies broke out across the US in opposition to Trump. US voters' dissatisfaction with Trump hit a record high. (2) US President Trump told the UK's Financial Times on the 29th that indirect talks between the US and Iran through intermediary Pakistan were "going well." But when asked whether a ceasefire agreement could be reached and the Strait of Hormuz reopened in the coming days, Trump did not disclose specific details. Spot Market: On March 28, the SMM price of #1 refined nickel fell by 1,300 yuan/mt from the previous trading day. In terms of spot premiums, the average price of Jinchuan #1 refined nickel was 4,750 yuan/mt, down 150 yuan/mt from the previous trading day; China's mainstream electrodeposited nickel brands were at -600-400 yuan/mt. Futures Market: The most-traded SHFE nickel contract (2605) maintained a rangebound fluctuation and closed at 136,130 yuan/mt as of the end of this morning's session, down 0.23%. Supply side, tightening nickel ore has evolved into dual cost support from "ore + taxes," providing solid support for the bottom of nickel prices, but weak end-use demand and continued inventory accumulation still capped upside room for nickel prices. Nickel prices were expected to maintain a fluctuating trend in the short term, with the core trading range of the most-traded SHFE nickel contract at 133,000-143,000 yuan/mt.

US President Trump said on the 29th that Iran allowed 10 oil tankers flying the Pakistani flag to pass through the Strait of Hormuz last week, and the number has now risen to 20. He told the UK's Financial Times, “These tankers have already set sail and are heading straight through the middle of the strait.” Qalibaf, speaker of Iran’s Islamic Consultative Assembly, approved the relevant decision. On the 23rd, Qalibaf posted on social media denying any negotiations with the US. Qalibaf said that spreading “fake news is intended to manipulate the financial and oil markets, thereby enabling the US and Israel to extricate themselves from the quagmire they are deeply mired in.”

On the 29th, US President Trump told the UK's Financial Times that indirect talks between the US and Iran, conducted through Pakistan as an “intermediary,” were “going well.” But when asked whether a ceasefire agreement could be reached in the coming days and the Strait of Hormuz reopened, Trump did not disclose specific details.