SUPER METAL PRICE Launches 'The Metals Grade Atlas' eBook: A Definitive Handbook for the Specialty Metals Industry

eBook: 'The Metals Grade Atlas'

An 815-page authoritative guide to titanium, nickel, and iron alloys sets a new global standard in advanced materials selection.

SUPER METAL PRICE, a global intelligence platform specializing in metals markets, has officially released The Metals Grade Atlas, a comprehensive digital reference for high-performance specialty metals used in modern industries.

A Complete Guidebook for Extreme Industrial Conditions in the 21st Century

This 815-page volume presents a systematic overview of materials engineered to withstand extreme environments, including aerospace, power generation, chemical processing, medical devices, and offshore platforms.

The Metals Grade Atlas provides essential data for materials capable of enduring ultra-high temperatures, corrosion, and mechanical stress—such as jet turbine blades operating above 1000°C, or gas turbines in power plants that function under thermal extremes exceeding 1200°C.

Covering the Full Spectrum of Titanium, Nickel, and Iron Alloys

The publication categorizes cutting-edge alloys into three key material families:

◎ Titanium Alloys – Lightweight and corrosion-resistant innovations

• Core material in aerospace applications for airframes, engine components, and landing gear
• Exceptional strength-to-weight ratio enhances fuel efficiency and payload
• Proven durability in chloride- and H₂S-rich offshore environments
• High biocompatibility and long-term stability for medical implants

◎ Nickel-based Superalloys – Designed to conquer extreme temperatures

• Resilient beyond 1200°C with excellent thermal and mechanical stability
• Ideal for turbine blades, combustors, and disks in power generation systems
• High resistance to creep, oxidation, and thermal cycling in jet engine hot zones
• Key material in high-temperature petrochemical reactors and heat exchangers

◎ Special Iron Alloys – The structural backbone of industrial infrastructure

• High-strength steels for shipbuilding, construction, automotive, and renewable energy
• Covers a wide range from ultra-high-strength to abrasion-resistant grades
• Enhanced fatigue performance and weldability in marine applications
• Delivers both weight reduction and crash safety in automotive structures
• Specialized grades for wind turbine towers and heavy-duty bearings

A Practical Data Library for Industry Professionals

Each alloy in The Metals Grade Atlas includes:

• Chemical composition and mechanical properties
• Corrosion resistance and high-temperature performance
• Fatigue strength and weldability indexes
• Real-world application examples and selection criteria
• Cost-performance considerations to support design decisions

Supporting Engineering Decision-Making

Going beyond material specifications, the book offers a structured framework for material selection in actual engineering practice. It assists professionals in benchmarking, processability assessment, and cost-performance analysis to guide optimal alloy choices.

A Strategic Companion for Industrial Innovation

SUPER METAL PRICE stated, "We sincerely hope this publication becomes a trusted and indispensable reference for design engineers, material scientists, and quality professionals striving to make precise, performance-driven, and economically sound material decisions."

The company further emphasized, "This book aims to serve as a compass for understanding, developing, and applying advanced metals in the pursuit of next-generation industrial innovation."

Global Market Insights and Future Outlook

With net-zero targets and energy transitions accelerating worldwide, demand for high-performance specialty metals is rising sharply. Policies such as the EU’s CBAM and the U.S. IRA have further highlighted the strategic value of specialty alloys. Industry experts have praised The Metals Grade Atlas as a long-awaited professional handbook that offers both comprehensive coverage and practical utility in the field.

Publication Details

• Title: The Metals Grade Atlas (eBook)
• Publisher: SUPER METAL PRICE
• Release Date: June 1, 2025
• Language: English
• File Size: 12.9MB
• Length: 815 pages

Available at: www.supermetalprice.com

About SUPER METAL PRICE

SUPER METAL PRICE is a global intelligence platform delivering in-depth analysis and real-time news on the metal markets. Its coverage spans steel, non-ferrous metals, rare earths, and energy-transition materials, with expert insights into pricing trends, tariffs, trade policies, and technical innovations across major regions including the U.S., Europe, China, and India.

Following The Metals Grade Atlas, the company plans to expand its specialty metals portfolio with future publications, including a Rare Earth Handbook and a Recycling Technology Guide.

Contact

Website: www.supermetalprice.com

eBook Purchase: Visit the digital download page

This press release is based on publicly available information from SUPER METAL PRICE.

ATI Sells Precision Rolled Strip Operations to Ulbrich to Refocus on Core Markets

ATI

ATI, a leading specialty alloys producer, has divested its precision rolled strip operations to Ulbrich Stainless Steels and Special Metals, a specialty metals manufacturer. This strategic move aligns with ATI's focus on its core markets in aerospace and defense, enabling the company to prioritize titanium, nickel, and alloyed products in its Specialty Rolled Products segment.

Details of the Divestment

ATI announced the sale of its facilities in New Bedford, Massachusetts, and Remscheid, Germany, to Connecticut-based Ulbrich. The New Bedford facility specializes in producing titanium strip, precision rolled strip, and cold-rolled stainless steel. Meanwhile, the Remscheid service center stocks high-temperature metals, including stainless steels, nickel-based alloys, and titanium.

While the financial terms of the deal remain undisclosed, the transaction is a pivotal part of ATI's streamlining efforts to cater to high-value industries such as aerospace and defense.

Strategic Shift Toward High-Performance Metals

This divestment underscores ATI's commitment to strengthening its portfolio in aerospace and defense by concentrating on advanced materials. By offloading precision rolled strip operations, ATI aims to enhance efficiency and focus on producing high-performance metals tailored to demanding applications.

Ulbrich, known for its expertise in precision metals, is expected to leverage the acquired facilities to expand its market reach and capabilities, particularly in stainless steel and high-temperature alloys.

This strategic realignment by ATI highlights an industry trend where companies streamline operations to bolster their standing in high-growth markets.

Arcline acquisition of Novaria Group signals aggressive aerospace expansion

Novaria Group

Arcline acquisition of Novaria Group marks a major bet on aerospace and defense components. The $2.2bn all-cash deal strengthens Arcline’s position across critical metallic parts used in commercial and military programs. As a result, the transaction underlines how financial investors view precision metal components as a long-term growth platform.

How the Arcline acquisition of Novaria Group reshapes the aero parts landscape

The Arcline acquisition of Novaria Group brings a diversified aerospace components specialist fully under private equity control. Novaria’s portfolio spans fasteners, machined parts and sub-assemblies used in aircraft and naval submarines. The business handles titanium, aluminum, stainless steel and superalloys, anchoring it firmly in the high-performance metals value chain.

The company also provides surface-finishing services, which are critical for fatigue life and corrosion resistance in aerospace components. Therefore Novaria sits at several chokepoints in the qualified supply chain. Boeing, Airbus, RTX, Spirit AeroSystems and GE Aerospace rely on its parts for both airframes and engines. This places the Arcline acquisition of Novaria Group at the heart of global aerospace and defense supply security.

Critically, Novaria operates through 20 subsidiaries, each targeting niche applications and certifications. That structure allows focused engineering and program support while benefiting from shared scale under a single owner. Private equity backing can accelerate capital expenditure for new machining, automation and special processes. It can also support bolt-on acquisitions of smaller specialty metals shops.

What the deal means for metals, pricing and OEM relationships

The Arcline acquisition of Novaria Group will likely influence demand patterns for titanium, aluminum and superalloys. As Novaria grows with Airbus, Boeing and defense programs, its pull on high-spec forgings, bar and wire will increase. This could tighten capacity in certain titanium fastener grades and nickel-based superalloys, especially as engine and defense build rates rise.

However, private equity ownership often brings a sharper focus on margin and working capital. Novaria may pursue longer-term contracts and value-based pricing with OEMs and Tier-1s. That shift can support more stable order books for upstream mills and service centers supplying aerospace metals. It may also push weaker competitors out of highly certified fastener and machined-parts niches.

Regulatory approvals remain outstanding, but no major antitrust hurdles are expected because the market is fragmented. Once closed, Arcline will join other financial sponsors building multi-platform aerospace portfolios. For OEMs, this raises both opportunities for integrated solutions and risks if pricing discipline tightens. For metals suppliers, a larger, more coordinated buyer could simplify negotiations but raise qualification thresholds.

The Metalnomist Commentary

This deal confirms that precision aerospace metals components remain premium assets in the private equity universe. Investors are clearly betting that long-cycle demand from commercial recovery and defense modernization will outweigh near-term volatility. For mills and recyclers of titanium, aluminum and superalloys, following Arcline’s footprint will be essential to tracking future growth in high-value aero metals demand.

Dong-a Special Metal Begins Production of 'Titanium Ingots' Based on Scrap

The supply of Titanium and alloy ingots in the Asian market is expected to improve. Dong-a Special Metal, a rare metal recycling company located in Haman, Gyeongsangnam-do, South Korea, is set to commence mass production of Titanium ingots made from scrap.

According to industry sources, the global aviation industry has been experiencing rapid growth since the COVID-19 pandemic, leading to a shortage of Titanium materials. When ordering related materials, lead times range from a minimum of one year to a maximum of over three years, causing significant disruptions in material usage.

To address this issue, the recycling of materials has become essential. Dong-a Special Metal has initiated the final mass production of Titanium ingots by developing a series of processes, from the pre-treatment of Titanium scrap to the production of ingots, over a long period.

The Titanium ingots that Dong-a Special Metal has begun producing include Gr.5 (Ti6Al4V) and Gr.23 (Ti6Al4V-ELI). The size is 230mm*3,000mm (max), and it is confirmed that various high-melting-point metal alloys, such as nickel-based superalloys, are also being prepared.

Jae-Ie Jang, Vice President of Dong-a Special Metal, emphasized, “In a situation where abnormal weather caused by carbon emissions is becoming a global issue, the production of Titanium sponge emits approximately 4.63 times more carbon (CO2) compared to steel.” He added, “Recycling rare metals is essential to reduce carbon emissions and prevent abnormal weather.”

Furthermore, in the United States and Europe, the rare metal recycling industry is already highly regarded, with scrap usage exceeding 90%. However, in South Korea, Titanium sponge produced in China and Russia is still being used under the pretext of cost reduction, contrary to the global trend towards carbon neutrality, according to the company.

Yoon-Kyung Ro, CEO of Dong-a Special Metal, stated, “As the aerospace and defense industries develop, the use of Titanium is expected to increase further. However, the reality is that the rare metal recycling market in South Korea is still very small.” She added, “Since someone must take the lead, Dong-a Special Metal is currently at the forefront, but we hope that more companies will take an interest in rare metal recycling, leading to a future where self-sufficient recycling is practiced, achieving true carbon neutrality.”

Airbus Safran Aubert & Duval Deal Deepens Control of Aerospace Speciality Metals

Aubert & Duval

Airbus Safran Aubert & Duval ownership is set to consolidate further after the two European aerospace groups agreed to acquire Tikehau Capital’s stake in the French speciality metals producer.

Airbus Safran Aubert & Duval control is strategically important because the company manufactures bars, forgings, ingots and other products from speciality steels, nickel-based superalloys and titanium. These materials are critical for aircraft engines, structural components and defence applications.

Airbus Safran Aubert & Duval ownership will be split more directly between the two industrial buyers after Tikehau’s stake is divided equally between them. The transaction remains subject to regulatory approvals.

The deal strengthens vertical control over a strategic European aerospace materials supplier at a time when aircraft manufacturers continue to face bottlenecks in forgings, superalloys and titanium components.

Aerospace Groups Secure Critical Forging and Alloy Capacity

Aubert & Duval occupies an important position between raw metal production and finished aerospace components. Its products include speciality alloy ingots, bars and forgings used in demanding high-temperature and high-strength applications.

This makes the company strategically relevant to both Airbus and Safran. Airbus needs qualified titanium, steel and superalloy products across aircraft structures and systems, while Safran depends heavily on high-performance metals for jet engine components.

Forging capacity is particularly important. Aerospace forgings require specialised equipment, long qualification cycles and tight process control, making it difficult to replace suppliers quickly when capacity tightens.

Superalloys also remain essential for hot-section engine components because they retain mechanical strength and corrosion resistance at extreme temperatures.

Titanium serves a different but equally important role. Its strength-to-weight ratio and corrosion resistance make it valuable in aircraft structures, landing gear, engine systems and other high-performance applications.

By increasing direct ownership, Airbus and Safran gain stronger influence over investment, capacity planning and production priorities at a supplier embedded deep inside their supply chains.

European Supply Security Drives Vertical Integration

Airbus, Safran and Tikehau originally acquired Aubert & Duval from Eramet in April 2023. The latest transaction moves the company even closer to its two largest strategic industrial stakeholders.

The French government also retains a special share to protect national strategic interests. That structure highlights the importance of Aubert & Duval not only to commercial aviation but also to defence and sovereign industrial capability.

The transaction reflects a wider aerospace trend toward securing critical suppliers rather than relying entirely on open-market procurement. Aircraft backlogs remain high, while qualified metals capacity has struggled to expand quickly enough in several segments.

Direct ownership can help protect investment in furnaces, forging presses, heat treatment and downstream processing. It can also improve coordination between material availability and aircraft or engine production schedules.

For Europe, this matters because aerospace supply security increasingly depends on retaining domestic capability in specialty alloys and high-value metal processing.

The transaction therefore goes beyond a financial restructuring. It strengthens Airbus and Safran’s control over one of Europe’s most strategically important producers of titanium, speciality steels and superalloys.

The Metalnomist Commentary

Airbus and Safran are treating speciality metals capacity as strategic infrastructure rather than a conventional supplier relationship. In aerospace, control over qualified titanium, superalloy and forging capacity is becoming as important as aircraft assembly itself.

Dong-A Special Metal Pioneers with CCAW Production Amid Market Shifts

Copper Clad Aluminium Wire (CCAW)

Dong-A Special Metal has marked a significant innovation in the metals industry by initiating production of Copper Clad Aluminium Wire (CCAW), responding strategically to the surging and fluctuating copper prices. This new venture aims to establish a robust presence beyond traditional metal forms like bar stock and ingots, focusing instead on specialized wire products.

Advancing with Copper and Aluminum Integration

The Korean-based company's success in producing CCAW—a bimetallic product that melds the lightness of aluminum with the conductivity of copper—is positioning it as a cost-effective alternative to pure copper wires. CCAW is over 50% lighter and costs about half as much as copper while achieving over 90% of copper's conductivity. This makes it suitable for high-frequency applications and a potential replacement for copper in global industries such as electronics, where it is used in fan motors, transformers, TVs, and refrigerators.

Particle Analysis

The shift comes at a time when many industries are seeking alternatives to expensive copper, with aluminum emerging as a viable substitute despite its lower electrical and thermal conductivity. Dong-A Special Metal move to produce CCAW is particularly significant as it provides a Korean-made source amidst high tariffs on Chinese imports imposed by the Trump administration, underlining the importance of diversifying supply sources.

Expanding Product Lines and Markets

Furthermore, Dong-A Special Metal is expanding its product range to include commercial production of titanium and nickel wires, set to begin this year. These products will be available in dimensions ranging from 14mm to 60mm for titanium and 2mm to 18mm for nickel, targeting specialized sectors such as aerospace, defense, shipbuilding, and chemicals. The company has also equipped itself to produce 1,000 tons of CCAW annually, ranging from 2.6mm to 16mm in diameter, with a copper content of 15%.

The company representative stated plans to utilize the same facilities for titanium and nickel alloy (Invar, Inconel 625, 718) wire products, intending to supply these critical materials to key industries involved in national defense and advanced technology applications.

Financial Moves and Future Directions

Dong-A Special Metal has recently chosen Korea Investment & Securities as the lead manager for its upcoming IPO, accelerating its growth strategy through funds raised from various investors, including BNW Investment, which has invested in Ecopro since 2022. The total investment secured so far is $23.48 million, setting a solid foundation for further expansion and innovation.

Overcoming High Tariffs through Titanium Recycling Materials

DongA Special Metal (DASM) Homepage

Reducing Costs by Using Titanium Scrap in the Age of High Tariffs

Since Donald Trump's election, the world has entered an era of high tariffs. In response to recent U.S. tariff policies, global companies have faced significant challenges in sourcing raw materials. This is especially true in the steel industry, which is struggling due to the influx of low-priced Chinese products. Companies in this sector are working tirelessly to secure materials and reduce costs in various ways.

The tariffs on Chinese materials have further diminished the competitiveness of U.S. companies in the domestic market. In addition, a predicted global industrial slowdown adds to the challenges. To remain competitive, companies must prioritize cost reduction. However, finding viable alternatives in this high-tariff era remains a struggle.

The situation is different in the specialty steel sector. Unlike common materials such as iron, stainless steel, and copper, which are largely controlled by China, the use of scrap offers limited cost savings in these areas. However, specialty alloys like nickel and titanium provide a significant opportunity for cost reduction. By using scrap materials in the production of these alloys, companies can achieve a 15-20% reduction in costs, making it a highly effective strategy for cutting expenses.

Scrap → Feedstock

Global Companies and the Shift Toward Scrap Use

Despite these benefits, the use of scrap in the specialty alloys sector remains relatively low, with only a few companies with advanced technology utilizing it. The main reason for this is a lack of understanding of its practical benefits. Integrating scrap into the production process can lead to substantial improvements in efficiency and simplification of operations, which naturally reduces costs. However, many companies fail to recognize these advantages, often due to a lack of experience.

To truly cut costs, increasing scrap usage is crucial. Additionally, the tariff situation has so far spared scrap materials from high taxes, making their use even more attractive. The growing need for scrap is becoming increasingly apparent as industries look for ways to cut costs and avoid tariff impacts. This raises the question: where can companies source specialty metal scrap?

South Korea Sees the Rise of a Scrap Specialization Recycling Company

To address these challenges, a specialty metal recycling company based in South Korea(DongA Special Metal) has developed technology to enhance scrap usage. This company has been recycling specialty alloys such as nickel, titanium, and zirconium for years, producing titanium sponge substitutes and feedstock for export to global markets. They offer a comprehensive service that includes advising on scrap alloy usage and ensuring that the final product meets industry standards.

Ti Sponge VS Ti Cobble

The company has particularly focused on titanium, a material known for its strength and elasticity. They break down titanium and process it into titanium sponge substitutes. This method not only makes titanium more affordable but also reduces the carbon emissions associated with titanium sponge production, which has become a significant concern in the metals industry. This innovation addresses both cost reduction and environmental challenges, making it an ideal solution for companies aiming to enter the U.S. market in the high-tariff era.

In recent years, the U.S. has increasingly turned to scrap use in the metals industry. In 2021, all U.S. titanium sponge plants were shut down due to environmental concerns, and the country now relies entirely on imports. As the use of scrap and alloys continues to grow, it’s clear that companies looking to stay competitive must address material sourcing challenges to succeed in the future.

DongA Special Metal Scrap Recycling Process

Yongshan Lithium Molybdenum Output Falls as Concentrate Supply Tightens

Yongshan Lithium

Yongshan Lithium molybdenum output declined in 2025 as tight molybdenum concentrate supply reduced production of ferro-molybdenum alloy and roasted concentrate. The Jilin-based metals producer reported lower output and sales across its molybdenum business.

Yongshan Lithium molybdenum output fell despite firmer molybdenum prices and continued demand from high-quality special steel. Feedstock availability became the main constraint, limiting the company’s ability to maintain production volumes.

Yongshan Lithium molybdenum output reflects a wider pressure point in China’s molybdenum market. Alloy producers need concentrate feedstock, but tight supply and higher unroasted concentrate prices increased procurement pressure during the year.

The company, also known as Jixiang Molybdenum or New China Dragon Molybdenum, produced 17,631t of ferro-molybdenum alloy in 2025, down 22% from a year earlier. Sales fell by 23% to 18,018t.

Concentrate Tightness Hits Ferro-Molybdenum Production

Yongshan’s ferro-molybdenum alloy production was directly affected by constrained concentrate supply. The company purchased concentrate and alloy from other plants during the year to support regular production and sales.

This shows how dependent ferro-molybdenum producers remain on reliable upstream feedstock. Even when downstream demand is firm, alloy plants cannot maintain output without stable concentrate availability.

Roasted molybdenum concentrate output fell more sharply. Yongshan produced 29,679t in 2025, down 34% from a year earlier, because unroasted concentrate feedstock prices trended higher.

Sales of roasted concentrate dropped by 55% to 6,894t. The steep fall suggests that more material was needed internally or that market conditions made external sales less attractive.

Molybdenum concentrate is the key input for ferro-molybdenum, which is used in special steel, stainless steel, energy equipment, chemical processing, aerospace and defence-related applications. Tight concentrate supply therefore affects the entire alloy value chain.

Higher Prices Support Market but Not Volumes

China’s ferro-molybdenum market remained supported by tight feedstock and stronger consumption from high-quality special steel producers. Average domestic prices for 60% ferro-molybdenum alloy rose by 5.2% in 2025 to 246,307 yuan/t ex-works.

Roasted concentrate prices also increased. Average prices for 57% grade roasted concentrate rose by 6.1% year on year to 3,939 yuan/mtu.

The price gains show that molybdenum demand remained resilient in higher-value steel applications. However, Yongshan’s results also show that higher prices do not automatically translate into higher output when feedstock supply is constrained.

The company plans to optimise its molybdenum product structure in 2026. It aims to phase out low-margin and low-value-added products while advancing energy-saving and cost-reduction initiatives.

This is a logical response to a tighter raw material environment. When concentrate is expensive and difficult to secure, producers must prioritise higher-margin products and improve operating efficiency.

Yongshan formally changed its name from Jixiang Molybdenum in July 2024, reflecting a stronger focus on the lithium industry. Even so, molybdenum remains an important part of its industrial metals base.

The Metalnomist Commentary

Yongshan’s weaker molybdenum output shows that China’s alloy chain is being constrained upstream, not only by end-use demand. In a tight concentrate market, the competitive advantage will shift toward producers with secure feedstock, higher-value alloy products and stronger cost control.

USA Rare Earth Serra Verde Acquisition Builds Ex-China Magnet Supply Chain

Serra Verde Group

USA Rare Earth Serra Verde acquisition will give the US rare earth producer direct access to one of the most important heavy rare earth projects outside China. The company has agreed to acquire Brazil’s Serra Verde Group for $2.8bn, accelerating its strategy to build a fully integrated mine-to-magnet supply chain.

The deal includes $300mn in cash and 126.85mn USA Rare Earth shares. After completion, USA Rare Earth shareholders will own 66% of the combined company, while Serra Verde shareholders will own 34%.

USA Rare Earth Serra Verde acquisition is strategically important because Serra Verde owns the Pela Ema ionic clay mine in Brazil. The project targets production of 6,400 t/yr of rare earth oxides by the end of 2027, with plans to double output later.

The acquisition gives USA Rare Earth exposure to four key magnet rare earth elements: neodymium, praseodymium, dysprosium and terbium. These materials are essential for high-performance permanent magnets used in electric vehicles, wind turbines, robotics, aerospace, defence systems and advanced industrial motors.

The transaction also strengthens the company’s position in yttrium. Initial Serra Verde output is expected to include 1,534 t/yr of yttrium, a material whose price has risen sharply in the US market and which has strategic applications in ceramics, phosphors, electronics, alloys and defence-related materials.

Serra Verde Adds Heavy Rare Earth Feedstock and Price-Floor Protection

Serra Verde’s Pela Ema project gives USA Rare Earth a near-term rare earth oxide production base. Ionic clay deposits are strategically attractive because they can contain valuable heavy rare earths such as dysprosium and terbium.

Initial planned output of 6,400 t/yr of rare earth oxides is expected to include 164 t/yr of dysprosium and 29 t/yr of terbium. These are small volumes compared with light rare earths, but they carry high strategic value because they improve magnet performance in high-temperature applications.

Dysprosium and terbium are especially important for permanent magnets used in EV traction motors, wind turbine generators, industrial robotics, guided systems and aerospace components. Without these elements, magnets can lose performance under heat and stress.

The deal also includes a 15-year offtake agreement previously signed by Serra Verde with a special-purpose vehicle funded by US government agencies, including the Department of Commerce and Department of Energy. This gives the project a policy-backed commercial structure rather than relying only on spot-market sales.

The offtake agreement includes price floors for neodymium, praseodymium, dysprosium and terbium. Floors are set at $110/kg for neodymium and praseodymium, $575/kg for dysprosium and $2,050/kg for terbium.

This structure is important because rare earth projects outside China often struggle when prices fall. Price floors can improve project bankability by protecting revenues and reducing the risk that China-linked supply undercuts new producers during market downturns.

Serra Verde will also share 70% of non-China index prices above the floor, net of separation costs. This gives the project exposure to upside while maintaining downside protection.

The company can also monetise non-offtake elements, including yttrium. That flexibility matters because ionic clay resources can contain multiple valuable rare earths beyond the main magnet feedstocks.

The market timing is favourable for heavy rare earth producers. US yttrium oxide prices have risen sharply, while dysprosium and terbium remain high-value magnet materials. Supply chains outside China remain thin, and buyers are increasingly focused on traceable, geopolitically secure material.

However, the acquisition does not remove execution risk. Serra Verde must still deliver target output, manage ramp-up, maintain product quality and connect mine production with separation, metal and magnet capacity.

Mine-to-Magnet Roll-Up Tests Western Rare Earth Integration

USA Rare Earth Serra Verde acquisition is part of a broader roll-up strategy. The company is building its supply chain through acquisitions rather than waiting for long greenfield development timelines.

USA Rare Earth bought UK-based Less Common Metals for $125mn in November. Less Common Metals gives the company rare earth metal and alloy production capability, a critical midstream step between separated oxides and finished magnets.

The company also acquired Texas Mineral Resources for $73mn in March to secure the Round Top heavy rare earth project in Texas. Round Top adds a US-based heavy rare earth resource to the group’s upstream portfolio.

Together, Serra Verde and Round Top are expected to give the combined company 17,100 t/yr of rare earth oxide mining capacity. Separation capacity will total 13,000 t/yr, while expanded metal and magnet-making capacity is planned at 27,500 t/yr and 10,000 t/yr, respectively.

This integration is the key point. Rare earth supply security cannot be solved by mining alone. Ore or concentrate must be separated, refined, converted into metals, alloyed and manufactured into magnets before it can support industrial customers.

Many western rare earth projects fail to cover the full chain. Some have resources but no separation. Others have separation but no heavy rare earth feedstock. Some can produce oxides but lack metal conversion and magnet-making capacity.

USA Rare Earth argues that the merged company will be the only fully integrated magnet supplier outside China. The claim reflects the company’s attempt to combine upstream heavy rare earth resources, separation, metal production and magnet manufacturing in one platform.

That structure could be attractive to customers in defence, aerospace, automotive, robotics and clean energy. These buyers increasingly need non-China supply options that can meet origin, traceability, qualification and security requirements.

The US government-backed offtake component also shows how rare earth supply chains are changing. Western governments are no longer relying only on free-market procurement. They are using price floors, strategic vehicles, financing support and industrial policy to build alternative supply.

Still, integration brings complexity. USA Rare Earth must combine assets across Brazil, Texas, the UK and planned downstream facilities. It must align mining output, separation chemistry, metal production, magnet capacity, customer qualification and government-backed offtake obligations.

The valuation also raises expectations. A $2.8bn acquisition price gives Serra Verde a large strategic premium. The deal will need to deliver heavy rare earth output, stable separation economics and customer demand to justify that value.

The broader market implication is clear. Heavy rare earth supply is becoming the strategic centre of the magnet market. Neodymium and praseodymium remain essential, but dysprosium and terbium determine performance in the most demanding applications.

China still dominates much of the rare earth separation, metal and magnet chain. The USA Rare Earth-Serra Verde deal is an attempt to create an alternative industrial route at scale.

If successful, the combined company could become a rare western platform with upstream resources, heavy rare earth exposure, midstream conversion and downstream magnet capability. If execution slips, it will show again how difficult it is to recreate China’s integrated rare earth ecosystem outside China.

The Metalnomist Commentary

USA Rare Earth Serra Verde acquisition shows that the rare earth race is shifting from single-asset mining stories to integrated supply-chain control. The deal’s real test will be whether USA Rare Earth can turn Brazilian ionic clay output, US heavy rare earth resources, separation capacity and magnet production into a bankable ex-China magnet platform.

Lundin Copper Output Rises as Caserones Grades Lift First-Quarter Production

Lundin Mining

Lundin copper output increased in the first quarter as stronger production from the Caserones mine in Chile offset lower grades at Candelaria. The Canadian miner produced 79,934t of copper during the quarter, up 7% from a year earlier.

Lundin copper output was led by Caserones, where production rose by 34.3% to 38,552t. The increase was driven by unexpectedly higher copper concentrate grades, making Caserones the largest contributor to the company’s quarterly copper production.

Lundin copper output remains on track with the company’s 2026 guidance of 310,000-335,000t. The result reinforces Lundin’s increasingly copper-focused strategy after recent asset sales reduced its exposure to zinc and nickel.

The company now generates 85% of quarterly revenue from copper. That shift gives Lundin more direct exposure to long-term demand from grids, electrification, data centres, renewable energy and industrial infrastructure.

Caserones Strength Offsets Candelaria Grade Pressure

Caserones was the clear operating driver in the first quarter. Higher grades lifted copper output and helped offset weaker performance elsewhere in Chile.

The mine also produced 589t of molybdenum in the quarter, down 2.2% from a year earlier. Molybdenum remains a valuable by-product because of its role in special steel, stainless steel, energy equipment and high-temperature industrial applications.

Candelaria produced 30,808t of copper, down 16.9% from a year earlier because of lower grades. The decline shows how sensitive copper output remains to ore quality, even at established assets.

Brazil’s Chapada mine produced 10,574t of copper. This gave Lundin additional geographic diversity across its copper portfolio, although Chile remained the dominant contributor.

The mixed mine performance highlights a common copper industry pattern. Higher grades at one asset can offset weakness at another, but sustained production growth still depends on grade control, mill performance and operational reliability.

Vicuna Project Anchors Lundin’s Long-Term Copper Growth

Lundin’s longer-term growth story is increasingly tied to the Vicuna copper project on the Argentina-Chile border. The company published a technical study for the project in the first quarter.

Vicuna is planned to produce more than 500,000 t/yr of copper once fully operational. If developed successfully, it could become one of the more important new copper growth projects in the Americas.

The project matters because new large-scale copper supply remains difficult to bring to market. Permitting, capital intensity, infrastructure, water access and cross-border complexity will all shape Vicuna’s development path.

Lundin has also simplified its portfolio. It completed the sale of the US-based Eagle mine to Talon Metals at the start of the quarter, further concentrating the business around copper.

The company previously sold its Neves-Corvo mine in Portugal and Zinkgruvan mine in Sweden to Boliden. Those assets were Lundin’s only zinc-producing mines, leaving the company with a much clearer copper-led structure.

For investors and industrial buyers, that portfolio shift is important. Lundin is positioning itself more directly around copper’s strategic demand growth rather than maintaining a broader base metals mix.

The Metalnomist Commentary

Lundin’s first quarter shows the value of becoming a focused copper producer at a time when copper is becoming a strategic industrial material. The next question is whether Vicuna can move from technical promise to bankable supply in a market that needs large, reliable copper projects.

China Nickel and Lithium Futures Opening Could Expand Global Pricing Power

The China Securities Regulatory Commission

China nickel and lithium futures are moving toward a more international market structure. Regulators approved access for foreign investors to key contracts. The decision covers SHFE nickel futures and options, plus GFEX lithium carbonate futures and options. As a result, China nickel and lithium futures could gain greater influence in global metals pricing.

The move reflects China’s larger industrial position in both metals. China remains the biggest consumer of nickel and lithium. It also plays a central role in stainless steel and lithium-ion battery production. Therefore, policymakers want market pricing power to better match physical market importance.

The approval also has strategic timing. Chinese-invested nickel operations in Indonesia now account for about 70pc of Indonesian capacity. That gives Chinese-linked supply strong relevance in global nickel trade. Meanwhile, opening China nickel and lithium futures could connect that supply base more closely to domestic benchmarks.

Foreign Investors in Chinese Futures Could Deepen Benchmark Influence

Foreign investors in Chinese futures could make domestic benchmarks more internationally credible. This is the first metal product on the SHFE approved for foreign participation as a special variety. That makes SHFE nickel futures especially significant. Consequently, the market now sees a clearer path toward stronger China commodity pricing power.

Lithium carbonate futures could also gain more strategic value. The GFEX contract launched only in 2023, but it already influences industry behaviour. Many traders now operate across both futures and spot markets. Therefore, wider access could accelerate the contract’s role as a pricing reference.

However, rules will determine how meaningful this opening becomes. The regulator has not yet released start dates or detailed implementation terms. Market participants said those details will shape participation and liquidity. As a result, the policy signal is strong, but execution still matters most.

China Commodity Pricing Power Still Depends on Liquidity and Market Discipline

China commodity pricing power will not rise automatically after market opening. Previous experience with copper futures on the Shanghai International Energy Exchange offers a cautionary example. Foreign access began in 2020, but liquidity stayed weak under multiple restrictions. Therefore, market design will matter more than headline approval alone.

The opening also creates new risks for domestic markets. Short-term foreign capital can intensify price swings if inflows or outflows become concentrated. That could increase volatility in futures and spill into the spot market. Meanwhile, supervision of overseas participants may become more complex.

Initial market reaction remained limited. The most-traded February nickel contract rose modestly, while the May lithium carbonate contract fell. That muted response suggests traders are waiting for operational details. Consequently, China nickel and lithium futures still need practical credibility before sentiment changes materially.

The Metalnomist Commentary

This policy matters because China wants pricing influence to reflect its physical dominance in battery and stainless steel supply chains. But internationalisation works only when access rules support real liquidity and trust. If implementation stays restrictive, China may gain visibility without gaining true benchmark power.

Boeing Defense leadership change: Steve Parker to lead BDS

Boeing Defense: Steve Parker

Boeing confirmed a Boeing Defense leadership change as Steve Parker becomes chief executive of BDS. The Boeing Defense leadership change follows months of interim stewardship and aims to stabilize costs. This Boeing Defense leadership change arrives as defense programs face schedule pressure and metals-intensive supply challenges.

Profitability and backlog under scrutiny

BDS returned to profit in Q1 2025 with $155mn. However, fixed-price contracts still pressure margins across complex platforms. The unit delivered 26 military aircraft, up from 14 a year earlier. Meanwhile, backlog stands near $62bn, supporting visibility into late decade.

Labor talks and supply chain implications

Parker must quickly resolve talks with 3,200 IAMAW machinists. Otherwise, a strike after 27 July could disrupt Missouri and Illinois lines. As a result, tier-1 and tier-2 suppliers may face rescheduling. Titanium, aluminum, composites, and avionics vendors should prepare contingency plans.

Boeing cites Parker’s operations background to improve execution. Therefore, manufacturing, quality, and program controls will likely tighten. Upstream metals procurement may shift to multi-sourcing and longer contracts. That shift could reduce volatility for aerospace-grade plate and forgings.

Winning the F-47 design contract strengthens BDS pipeline. Meanwhile, schedule discipline will be critical to control rework and waste. Suppliers should expect stricter cost baselines and delivery gates. Digital thread adoption could accelerate across machining, heat treatment, and finishing.

The Metalnomist Commentary

Leadership stability often precedes tougher supplier KPIs and longer-dated metal commitments. Expect firmer call-offs for titanium and aluminum, and closer oversight of special processes. Programs that execute cleanly will secure share as backlogs convert to cash.

TSR Acquires German Plant to Expand Copper Alloys Production

TSR Recycling

TSR Recycling, a leading European metals recycler, has successfully acquired Siegfried Jost GmbH & Co NE Metallhandel and its electric melting plant in Menden, Germany. The acquisition strengthens TSR’s position in the copper alloys market by adding advanced production capabilities, particularly in the smelting of copper alloys from recycled raw materials.

Expansion into Copper Alloys and Smelting Expertise

The Menden plant specializes in the production of copper alloys, which are used primarily in industries such as sanitation and glass manufacturing. These alloys include materials such as brass, special brass, nickel bronze, aluminum bronze, and gunmetal. Siegfried Jost also handles production residues like slag, dross, sand, and swarf, which are further processed in the electric melting plant to create high-quality alloys.

TSR’s acquisition not only broadens its portfolio but also allows the company to expand its expertise in smelting processes, particularly for copper alloys produced from recycled materials. The move marks a strategic step for TSR in enhancing its recycling capabilities and furthering its commitment to sustainable metal production. In a LinkedIn post on November 4, TSR emphasized that the acquisition would enable the company to leverage its in-depth know-how of smelting processes to meet the growing demand for high-quality copper alloys in various industries.

Strategic Growth for TSR Recycling

By integrating Siegfried Jost’s advanced alloy production facility, TSR is set to improve its market position and expand its service offerings in the copper alloys sector. The move aligns with the company's broader goals to increase its recycling operations, contributing to both sustainability and the growing demand for recycled metal alloys in European industries.

Muchai Mining Kenya Signs Long-Term Manganese Ore Supply Deal with Baosteel

Baosteel

Kenya’s Kilifi plant to supply Baowu subsidiary with up to 20,000 wmt/month of manganese ore by 2026.

Muchai Mining Kenya (MMK), a subsidiary of Marula Mining, has secured a major supply contract with Baosteel Resources South Africa, part of the Baowu Special Steel group. The agreement grants Baosteel exclusive rights to market MMK’s manganese ore from the Kilifi processing plant in Kenya’s Tezo area.

The Kilifi plant currently produces around 120,000 tonnes per year of manganese ore. The new contract began on 1 March 2025 and will run for an initial five-year term. The first delivery, totaling 5,000 tonnes of 35–40% grade ore, is scheduled for completion by 30 April 2025.

Kenyan Manganese Enters Chinese Steel Supply Chain

From May 2025, MMK will supply a minimum of 10,000 tonnes per month for 12 months. This volume will increase to approximately 15,000 wet metric tonnes (wmt) per month in April 2026, then rise further to 20,000 wmt/month from May 2026 for a full year.

Each shipment will be structured under independent sale and purchase contracts, and pricing will follow cost, insurance, and freight (CIF) China terms, adjusted for ore grade and quality.

This agreement strengthens China's manganese ore supply chain amid growing demand from its specialty steel sector, while offering MMK a stable export route backed by a globally recognized partner.

Strategic Win for Kenya’s Mining Sector

The deal marks a significant step for Kenya’s emerging mineral economy, positioning Kilifi as a key node in the global manganese trade. With rising steel demand and the strategic role of manganese in battery and alloy production, MMK’s partnership with Baosteel highlights the growing integration of African mining assets into the Asia-Pacific metals ecosystem.

Africa's Minerals Must Power Africa: Mining Indaba Calls for Boost in Intra-Continental Trade

Africa's Minerals

AfCFTA, regional value chains, and self-defined priorities take center stage in reshaping Africa’s mineral future

Africa holds nearly a third of the world’s critical mineral reserves—yet trades only 16% of those within its own borders. At the 2025 Mining Indaba conference in Cape Town, ministers, economists, and industry leaders called for a new era of intra-African trade and industrialisation, urging the continent to redefine critical minerals based on African needs—not Western frameworks.

South Africa’s Minister of Mineral and Petroleum Resources, Gwede Mantashe, emphasized that African countries must resist the external dictates that dominate the global critical minerals conversation. Instead, he said, Africa should set its own criteria and align its mineral strategies with industrial development goals.

With abundant reserves of cobalt, copper, manganese, and graphite, Africa is in a strategic position to power the global energy transition. However, exporting raw minerals without regional beneficiation limits Africa’s economic growth. That’s why the African Continental Free Trade Area (AfCFTA)—the largest free trade agreement globally—is being hailed as a turning point for the continent.

AfCFTA Key to Building African Mineral Value Chains

The AfCFTA, covering 54 countries and a combined GDP of $3.4 trillion, offers a platform to strengthen regional supply chains. According to Solomon Quaynor of the African Development Bank (AfDB), building regional value chains will help countries meet domestic needs before focusing on exports to regions like the EU—especially with the rise of barriers such as the carbon border adjustment mechanism.

He stressed that industrialisation cannot succeed in isolation. Infrastructure and cross-border trade corridors are essential to achieving scale, efficiency, and competitiveness. A strong example is the joint electric vehicle and battery economic zone being developed between Zambia and the Democratic Republic of Congo. This initiative aims to position Africa as a global player in the battery metals industry.

Finance, Infrastructure, and Strategy Must Align

Improved infrastructure and connectivity will underpin the success of intra-African trade. Institutions like the African Export-Import Bank (Afreximbank) are stepping in with special funds to support countries and companies during this transition. Afreximbank is offering financing, technical assistance, and grants to reduce risk and unlock trade bottlenecks.

Kanayo Awani, Executive Vice-President for Intra-African Trade at Afreximbank, made it clear: critical minerals should serve Africa’s prosperity—not just feed distant supply chains. Redefining trade terms will ensure that mineral wealth accelerates industrialisation, reduces poverty, and supports long-term economic independence across the continent.

Africa’s future lies in mining for Africans first—building regional markets, investing in processing, and growing industries that transform raw minerals into manufactured goods on African soil.