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Vol. 215 Nov. 2025 [Link]
w
www
[Link] 1
Refractories Window
China News
04 China's economy remains generally stable in October
04 China's industrial profits record steady growth in the first 10 months
05 China's recycled non-ferrous metals industry undergoing rapid expansion
05 China's steel industry profits rise despite drop in consumption
06 China's installed power capacity up 17.3% by October
06 China's economy in masterful upgrading along with industrial robots

Interview 04

08 Interview with Dr. Rainer Gaebel, President of the World Refractories

Association (WRA)

Industry News
12 EU-backed RAPTOR system sets a new benchmark for refractory recycling
12 China's graphite Q1-Q3 exports surpass 2024 full-year volume
13 China's exports of silicon carbide rise despite lower prices
13 Shanxi launchs a new batch of mineral resource rights confirmation and
registration
14 Gansu confirms 700mt magnesio-dolomite discovery
14 EAEU imposes anti-dumping duties on graphite electrodes imported from
China
14 Guinea accelerates alumina refinery projects to boost mineral value-
addition
15 China's output of refractories' downstream industries in Jan-Oct 2025
16 Global crude steel production down 5.9% YoY in October 2025 08

Company News
18 Calderys Group celebrates 160 years of innovation and industrial
excellence
18 SHINAGAWA partners with Sheffield Hi-Tech Refractories to boost
global steel industry
19 JT Thorpe Group enters the Canadian refractory market with its
acquisition of ThorCan
19 Monolithisch India acquires Mineral India Global Private Limited
20 ARAP unveils N1.3bn monolithic refractory plant in Nigerua
21 NMG and Traxys finalize offtake agreement for natural flake graphite
19
22 Metro Mining expects to increase bauxite volume in 2026
22 Tata Steel Nederland acquires power plants to strengthen energy
independence
23 US Steel plans to build a DRI plant in Arkansas

Market Analysis
24 Market review of calcined bauxite in November
24 Brown fused alumina market holds firm in November
24 Industrial alumina market continues to weaken in November
24 Market review of white fused alumina in November
25 Tabular alumina market weakens further in November
25 Calcined alumina market remains weak in November
25 Mullite market update in November
21

2 [Link] Vol. 215 Nov. 2025

 Contents
26 Kyanite Shortage Intensifies, while andalusite and Sillimanite Stable
26 Caustic calcined magnesia prices rise in November
26 Fused magnesia market in a sluggish state
27 Dead burned magnesia market remains weak
27 Large crystal fused magnesia market holds weakly steady
27 Magnesia alumina spinel prices show divergent trends
28 Flake graphite market review in November
28 Silicon carbide price increases in November
28 Market overview of alumina cement in November 29
28 Calcium aluminate cement market review in November
29 Market review of silica fume in November
29 Market review of silicon metal powder in November
29 Market review of chromium oxide green in November
30 Boron carbide prices tend to rise
30 Phenolic resin prices decline further
30 Silica brick market review in November
31 Magnesia alumina spinel bricks facing weak demand
31 Market review of fused AZS brick in November

Market Trend
34 Export Prices of China Refractory Materials in 2024-25
36 Export Prices of China Refractory Products in 2024-25
37 Ex-works Prices of China Refractory Materials in 2024-25
38 China Imports & Exports and Composite Prices of Refractories in 2024-25
39 China Imports & Exports and Composite Prices of Refractories in 2024-25

Statistics
42 China Exports of Refractory Raw Materials and Products (Sep. 2025)
42 China Imports of Refractory Raw Materials and Products (Sep. 2025)
42 China Exports of Refractory Raw Materials to Different Destinations
(Sep. 2025)
44 China Exports of Refractory Products to Different Destinations (Sep. 2025)
57 China Imports of Refractory Minerals from Different Origins (Sep. 2025)

Meetings
60 Conference Calendar

Buyer's Guide
64 Please contact refwin@[Link] for listing.

Advertising Index
Henan Jinbo New Materials Co., Ltd. Inside Front Cover Shandong Western Coast Advanced MaterialsCo., Ltd. 32
Shijiazhuang Mining Technology Co., Ltd. 7 Yanshi Zhongyue Refractories Co., Ltd. 33
Shanxi Jindongnan Shenhua New Materials Co., Ltd. 10 Lianhui International Trade Company 40
Liaoning Donghe New Materials Co., Ltd. 11 Beijing Rongyi Industries Co., Ltd. 41
Map of China’s Top 100 Refractories Enterprises 16 1st Middle East Advanced Refractory Materials Technical 61
Hebei Zhongming Composite Material Co., Ltd. 17 Exchange and Exhibition
Interview Appointment 23 Refwin Indepth Research Inside Back Cover
Refwin on Wechat 31 Refwin Service Back Cover

Vol. 215 Nov. 2025 [Link] 3

 China News
China's economy remains generally stable in October
Nov. 14, 2025 - China's economic performance held steady in October Notably, equipment and high-tech manufacturing reported strong
amid headwinds and uncertainties, with industrial production performances in October, with respective expansions of 8 and 7.2
reporting stable growth, driven by strong performances in equipment percent.
manufacturing and high-tech sectors, official data showed on Friday. Retail sales, a key measure of consumer spending, grew by 2.9 percent
year-on-year in October, compared to a 3 percent growth in September.
Fixed-asset investment – a gauge of expenditures on items including
infrastructure, property, machinery and equipment –declined 1.7 percent
during the January-October period compared to a year ago. In the first
nine months of the year, it had decreased by 0.5 percent.
The surveyed urban unemployment rate stood at 5.1 percent in October,
down from 5.2 percent in September, according to the NBS.
The NBS stated that the data showed China's economy remained
generally stable in October, with solid progress in transformation,
upgrading and new growth drivers.
Recognizing that challenges and uncertainties persist in the external
The view of Shanghai's CBD is seen in this photo. environment, the NBS reaffirmed its commitment to promoting the
Figures released by the National Bureau of Statistics (NBS) showed effective implementation of policies aimed at boosting domestic demand
that China's value-added industrial output – a gauge of activity in the and maintaining stability in employment, business activity, markets and
manufacturing, mining and utilities sectors – rose by 4.9 percent year-on- expectations.
year in October, following a 6.5 percent rise in September.

China's industrial profits record steady growth in the first 10 months

Nov. 27, 2025 - Profits at China's major industrial firms rose steadily in sector.
the first 10 months, with equipment manufacturing and high-tech sectors Meanwhile, Yu warned of the complex and grim international
reporting rapid growth, official data showed on Thursday. environment and structural issues at home, saying more efforts should be
During the first 10 months, China's industrial enterprises with an annual made to further boost domestic demand, optimize structures and foster
revenue of at least 20 million yuan ($2.8 million) saw their total profits new growth drivers.
rise 1.9 percent year-on-year to 5.95 trillion yuan, following a 3.2 percent Zhang Di, chief macroeconomic analyst at China Galaxy Securities, said
increase in the first nine months, data from the National Bureau of the equipment and high-tech manufacturing sectors remained the main
Statistics showed on Thursday. drivers of industrial profit growth during the first 10 months.
NBS statistician Yu Weining attributed the steady growth in the first Notably, profits in equipment manufacturing industries surged 7.8
10 months to the government's effective measures to strengthen both percent year-on-year during the first 10 months, driving overall industrial
domestic and international circulations, which led to steady growth in profit growth to accelerate by 2.8 percentage points. And profits in
corporate profitability and high-quality development of the industrial high-tech manufacturing jumped 8 percent during the same period, 6.1
percentage points higher than the overall industrial profit growth, NBS
data showed.
During the first 10 months, profits recorded by manufacturing companies
rose by 7.7 percent year-on-year, and profits registered by industrial firms
that offer supplies of electricity, heat, gas and water grew by 9.5 percent.
Meanwhile, profits recorded by mining firms shrank by 27.8 percent.
In October, China's industrial profits dipped 5.5 percent versus a 21.6
percent gain in September, according to the NBS.
Zhang noted that production activity was temporarily disrupted by fewer
working days last month, while external demand was affected by new
export rules. "Despite short-term fluctuations, we believe there is still a
Automated production at the Seres Super Factory in Liangjiang New Area, Southwest
China's Chongqing solid foundation for profits to maintain a steady upward trend," Zhang

4 [Link] Vol. 215 Nov. 2025

said. and China's ongoing efforts to diversify its export markets are expected
Zhang highlighted two key factors to watch in the coming months,namely to help stabilize external demand, Zhang cautioned that uncertainties
the pace of policies aimed at boosting domestic demand as well as the remain. "We still need to closely monitor geopolitical tensions and the
external demand and geopolitical risks. US Federal Reserve's rate-cutting path, as they will influence the external
While the marginal risk of tariff deterioration has eased significantly environment," he added.

China's recycled non-ferrous metals industry undergoing rapid expansion

Nov. 11, 2025 - China's recycled non-ferrous metals industry has posted
rapid growth during the 14th Five-Year Plan period (2021-2025), with its
annual production of recycled non-ferrous metals expected to reach 20
million tonnes this year, per the latest industry data.
The domestic output of recycled non-ferrous metals has grown at an
average annual rate of 7.2 percent since 2021, reaching 19.15 million
tonnes in 2024, the data shows.
During the 2021-2024 period, China accounted for a third of the world's
total production of recycled non-ferrous metals, Ge Honglin, president
of the China Non-Ferrous Metals Industry Association, said at a recent
industrial convention in Chengdu, the capital of southwest China's
Sichuan Province.
This rise in production contributed to saving 3.6 billion tonnes of mining
resources during the 2021-2024 period, and to reducing carbon dioxide percent of their total input of raw materials, the association said.
emissions by 560 million tonnes, according to data from the association. In the next five years, China will intensify efforts to promote the high-
Technological innovation in the sector has boosted the utilization of quality development of the recycled non-ferrous metals industry by
recycled resources. A growing number of companies in China now enhancing its supply system, expanding the utilization of recycled non-
use recycled metals as a major source of raw materials, with some ferrous metals in more fields, and strengthening the sector's digital
manufacturers reporting that such materials constitute more than 60 transition, Ge noted.

China's steel industry profits rise despite drop in consumption

No. 3, 2025 - China's iron and steel industry reported a 1.9-fold year- steel, down 2.9 percent year-on-year, and is expected to maintain a
on-year increase in profits in the first three quarters, showing an decline for the full year, meeting the crude steel output control target.
improvement from a year earlier, Jiang Wei, vice-chairman and secretary- Apparent consumption of crude steel stood at 649 million tons during
general of the China Iron and Steel Association, said at a press conference the same period, down 5.7 percent year-on-year. It is expected to fall
on Friday. below the previous year's mark for the fifth consecutive year. Overall,
However, the sector still faces pressure to balance supply and demand, both output and consumption are trending downward, with consumption
he added, and steelmakers must exercise greater self-discipline in the declining faster than production.
fourth quarter by curbing production and cutting inventories to avoid In terms of energy conservation and emission reduction, major steel
disorderly price competition. enterprises saw a 0.54 percent year-on-year drop in total energy use in
During the first three quarters, industry revenue fell at a slower pace than the first three quarters, a 0.6 percent decrease in energy consumption
costs. Major steel enterprises recorded a combined operating revenue per ton of steel, and a 5.88 percent decline in wastewater discharge.
of 4.56 trillion yuan, down 2.36 percent year-on-year, while operating Jiang Xiaodong, deputy secretary-general of the CISA, stressed the
costs dropped 3.88 percent to 4.26 trillion yuan - a 1.52-percentage-point importance of avoiding disorderly competition while promoting a healthy
difference between the two declines. balance between steel supply and demand.
Total profits reached 96 billion yuan, up nearly double year-on-year, while He said that CISA has been working closely with relevant government
the average sales profit margin stood at 2.10 percent, an increase of 1.39 departments to develop a steel industry price supervision mechanism,
percentage points from a year earlier. which aims to leverage the industry's professional capacity to establish
Steel output and apparent consumption both continued to decline. In a comprehensive price information monitoring system, a behavioral
the first three quarters, China produced 746 million metric tons of crude monitoring system, and benchmark cost indices by region and product

Vol. 215 Nov. 2025 [Link] 5

 China News
category. government regulation - to curb and penalize vicious price competition
"The goal is to build a diversified governance model featuring corporate and allow market mechanisms to promote fair competition and eliminate
self-discipline, industry oversight, association coordination, and inefficiency," Jiang added.

China's installed power capacity up 17.3% by October

Nov. 24, 2025 - China's total installed power-generating capacity reached percent year-on-year to 1.14 billion kW. Wind power capacity also posted
3.75 billion kilowatts (kW) by the end of October, rising 17.3 percent strong growth, increasing 21.4 percent to 590 million kW, according to
the National Energy Administration (NEA).
By the end of September this year, China's installed renewable energy
capacity had reached nearly 2.2 billion kilowatts, accounting for
approximately 59.1 percent of the country's total installed power
capacity, earlier NEA data showed.
The country has built the world's largest renewable energy system. In
the first four years of the 14th Five-Year Plan period (2021-2025), China's
energy consumption per unit of gross domestic product dropped by a
cumulative 11.6 percent. China has vowed to accelerate green transition
across the board and build a Beautiful China in the coming five years.
China's electricity consumption, a key barometer of economic activity,
year-on-year, official data showed on Monday. registered double-digit expansion last month, according to earlier NEA
Solar power capacity continued to drive the expansion, jumping 43.8 data.

China's economy in masterful upgrading along with industrial robots

Nov. 24, 2025 - The output of intelligent equipment manufacturing rose In China, new quality productive forces are not an abstract concept.
by 12.2 percent, proving that the application of technologies such as They materialize in high-speed intelligent production lines, smart electric
artificial intelligence and the industrial internet is spawning a massive vehicles shipped worldwide, and advanced chips produced domestically
market for smart equipment, providing strong support for the nation's — all becoming the most powerful engines propelling economic growth.
digital transformation. China's outstanding economic performance in the first three quarters of
Meanwhile, products linked to green and intelligent transformation saw 2025 represents a systemic victory. It vividly illustrates three key facts.
simultaneous growth in both quantity and price. The output of new The transformation of growth drivers is bearing fruit. The transition from
energy vehicles surged 29.7 percent. Chinese brands not only dominate old to new engines of growth has reached a crucial inflection point, with
the domestic market, but also show strong competitiveness globally. A new quality productive forces evolving from a rising star into a mainstay.
complete ecosystem — from battery materials and vehicle manufacturing In short, China's economic growth story is turning a new page — from
to intelligent charging — has taken shape. pursuing speed to pursuing quality, from factor-driven to innovation-
Industrial robot output jumped 29.8 percent, as the pace of "machines driven growth. The doubling of its growth rate over the global average
replacing humans" accelerated rapidly across sectors amid demographic is not merely a numerical advantage, but a comprehensive lead in
changes. This trend not only addresses labor shortages, but also greatly development model, industrial structure, and growth resilience.
enhances production efficiency and product quality.

If you want to release any comppany news on the next issue, you are welcom
me to send it to
refwin@[Link] m before Dec. 20, 2025.

6 [Link] Vol. 215 Nov. 2025

Vol. 215 Nov. 2025 [Link] 7
 Interview
Interview with Dr. Rainer Gaebel, President of the World Refractories
Association (WRA)
sustainability and compliance essential priorities. Additionally, the
sector’s high energy intensity calls for innovative solutions to improve
efficiency and reduce emissions.
A shortage of skilled professionals adds another layer of complexity.
This can only be addressed by raising awareness of our industry’s largely
unknown but vital role and by creating a positive image of our branch.
WRA’s activities complement those of regional associations in this regard.
Finally, employee safety remains a non-negotiable focus across all WRA
programs.

Q: Could you share examples of WRA’s cross-border collaborations that

have driven innovation or standardization?
A: International cooperation is at the heart of WRA’s work. We
collaborate with global organizations to align testing protocols—
such as those for abrasion resistance, cold crushing strength, and hot
modulus of rupture—along with product classifications and performance
benchmarks, creating consistency across markets. The results of this
meticulous work have already been published in international journals
and presented at conferences such as UNITECR and ICR. Our most recent
achievement is the definition of a standard for calculating the product
carbon footprint (PCF). Our initiatives also promote the use of recycled
materials in refractory production, supporting worldwide sustainability
Q: As President of the World Refractories Association (WRA), how goals and encouraging adoption across the industry. Furthermore, we
would you define the association’s core mission in advancing the global facilitate knowledge sharing and best practices among leading companies,
refractory industry? ensuring that innovation and progress are shared internationally.
A: The WRA’s mission is to serve as the global voice of the refractory
industry and to provide a unified platform for collaboration. We act as a
forum for refractory producers on matters of common concern and liaise
with regional and national associations to achieve efficient and effective
cooperation. The WRA advocates internationally to raise awareness of
the industry’s critical role in modern life, while embedding sustainability
as a fundamental principle of the association’s work. By delivering data-
driven insights, we enable informed decision-making across the sector. At
the same time, we take a leadership role in harmonizing standards and
fostering innovation, ensuring that the industry remains competitive and
future-ready.

WRA Board Meeting and General Assembly held on 29 October 2025

Q: What are the most pressing challenges facing the refractory sector
today, and how is WRA addressing them? Q: What strategies does WRA employ to ensure active participation and
A: The refractory industry faces a range of serious challenges. The value delivery to its diverse membership base?
consequences of a weak global economy and overcapacity—both in A: We maintain a membership structure that represents global
our customers’ industries and within our own—are issues that WRA companies as well as regional associations. Regular opportunities for
can hardly influence. However, many topics require coordinated action. interaction—such as collaboration in working groups and scheduled
Environmental and regulatory pressures are intensifying, making meetings—ensure that members stay connected and informed. Hybrid

8 [Link] Vol. 215 Nov. 2025

meetings have proven particularly effective in advancing our projects. for calculating the product carbon footprint (PCF). This new standard
Tailored communication channels provide relevant updates, while our is already widely accepted and helps our members, suppliers, and
advocacy efforts amplify the industry’s voice in global forums. customers quantify the impact of circularity as well as efforts to increase
WRA’s approach is built on inclusivity and engagement. Whether energy and emission savings. The implementation of such an industry
members choose to participate actively or passively, we provide an ideal standard is a major step forward in decarbonization. At the same time,
platform for sharing resources and expertise. All members benefit from we are proactively working on an industry-specific digital standard for
our activities and have access to results and data. Non-members also data exchange to ensure readiness for the digital transformation.
gain advantages, as our findings are typically published and the use of A dynamic transformation is also taking place in our communications. A
standards is, of course, not limited to members. new series of explanatory and industry-promotional video clips will soon
be released through our digital media channels.
Q: What game-changing initiatives can we expect under your
leadership? Q: How does WRA cooperate with other industry associations to
A: My biggest challenge is to maintain the excellent work of WRA’s influence the development of the refractory industry?
committees and working groups. The association’s activities rest A: We work closely with associations that are members of WRA to
on three strong and highly productive pillars: Health, Technology, address shared challenges and leverage synergies. This collaborative
and Communication. Under my leadership, and with the support of approach enables us to tackle issues such as sustainability, regulatory
my colleagues on the board, WRA will build on these foundations compliance, and workforce development more effectively. At the same
while broadening its portfolio with a stronger focus on eco-friendly time, we remain open to cooperation with our customers’ associations.
technologies and by deepening collaboration—both among members
and with other associations. Q: What role does WRA play in bridging the skills gap and fostering
A key priority in these challenging times is to identify issues critical talent development?
to the industry and promote research and actions to address them. A: Talent development is a key priority for our industry. We see a clear
Equally important is keeping our experts and supporters within member shift toward fostering talent through various channels. It has become a
organizations motivated to contribute. Many of them go the “extra mile” central topic at conferences, and special events have been created—an
to help build a resilient, responsible industry that can thrive in a rapidly initiative I take some humble pride in having helped to launch.
changing global environment. WRA will do whatever it can to support the industry. As mentioned
earlier, our Communications Committee is fully focused on raising
Q: How does WRA’s current portfolio—from health and safety to awareness of the importance of refractories in modern life and on
technology and communication —align with the evolving needs of a creating a positive public image of our multifaceted industry. We also
decarbonizing and digitally transforming industry? provide access to industry statistics and research findings that support
A: Our activities are designed to support the industry’s transformation. educational programs and workforce planning.
Harmonizing standards and setting new benchmarks ensures consistency For the great professionals and talents already in our industry, our events
in an environment where technologies and processes evolve rapidly. For create valuable opportunities to network, exchange knowledge, and learn
example, our Technical Committee has developed a method and standard from experienced leaders in the field.

Q: What should Refwin’s readers understand about WRA’s unique

contribution to the global refractory ecosystem?
A: The WRA is the only refractory association that brings industry leaders
together on a global scale to advance sustainability, safety, and common
standards. Beyond technical progress, we aim to raise awareness of the
indispensable role refractory materials play in virtually every aspect of
modern life.
By bridging gaps that regional associations and individual companies
cannot easily close, WRA strengthens the global refractory ecosystem
and serves as a unique point of contact for international associations
in our customers’ industries. WRA also helps create a global business
:5$PHPEHUVZLWK.DWKULQ:HEHU FHQWHUKROGLQJFHUWL¿FDWH 3URGXFW&DUERQ)RRWSULQW
environment that attracts the next generation of talent needed to drive
7DVNIRUFHPHPEHUZKRSUHVHQWHGWKHVWDQGDUGLVHGPHWKRGRORJ\IRUFDOFXODWLQJWKH3&)
of refractory products during the UNITECR 2025 Conference in Cancun this fascinating industry forward.

Vol. 215 Nov. 2025 [Link] 9

10 [Link] Vol. 215 Nov. 2025
Vol. 215 Nov. 2025 [Link] 11
 Industry News
EU-backed RAPTOR system sets a new benchmark for refractory
recycling
Nov. 17, 2025 - A European technology consortium led by RHI Magnesita Products Regulation through trustworthy composition and traceability
will today unveil RAPTOR, a first-of-its-kind, AI powered mobile multi data, it advances the Circular Economy Action Plan by cutting waste
sensor system that turns mixed, end-of-life refractories into high purity and landfill, and it aligns with the Clean Industrial Deal by turning
secondary raw materials. decarbonisation into competitiveness for Europe's foundation industries
RAPTOR emerges from ReSoURCE, a Horizon Europe project with nine while reducing exposure to ETS costs.
partners that ran from 1 June 2022 to 30 November 2025, with an EU
contribution of €6.09 million, €1 million from UK government and a total Closing Event in Brussels
cost of €8.51 million, created to fully modernise the refractory recycling The final results will be presented at a Closing Event – ReSoURCE: Driving
value chain through digitalisation, automation and high precision sorting. Digital Innovation for a Circular and Competitive European Industry in
“RAPTOR is proof of what Europe can achieve when industry, researchers Brussels. The workshop takes place on Monday, 17 November 2025, from
and the EU work as one. By bringing everyone's expertise to the table, 14:00 to 17:00 at AT60 “House of Austria”, Avenue de Cortenbergh 60,
we have taken top notch technology from lab to line. This breakthrough 1000 Brussels, followed by networking from 17:00 to 19:00. The event
will strengthen Europe's strategic autonomy by reducing demand for is organised jointly by the nine project partners, RHI Magnesita, LSA
virgin raw materials, accelerate Digital Product Passport readiness across Laser Analytical Systems and Automation, InnoLas, Norsk Elektro Optikk,
supply chains, and make a concrete contribution to the European Green Fraunhofer ILT, Montanuniversität Leoben, SINTEF, Crowdhelix and CPI.
Deal, the Circular Economy objectives and the recycling goals under the Industry leaders, policymakers and researchers will discuss the innovation
Critical Raw Materials Act,” said Constantin Beelitz, President Europe and created and how to roll it out across the EU. Registration is available at
CIS, RHI Magnesita, on behalf of the consortium. [Link]

From lab to line: impact that matters for Europe Next Steps
As a mobile system combining LIBS + HSI sensors with AI, RAPTOR Building on the success of ReSoURCE, the consortium is now preparing
automatically sorts complex waste streams into certified, traceable for the industrial rollout of RAPTOR and several complementary
secondary materials that can re-enter high-temperature industries at technologies developed during the project. Alongside the main system,
scale. Rolled out across the EU, the ReSoURCE solution has system-level early prototypes for fine fraction sorting, advanced sensing concepts, and
potential to deliver every year: digital tools for material classification have opened promising pathways
ΕϴϬϬ͕ϬϬϬƚKЇĂǀŽŝĚĞĚ;уϱϬϬ͕ϬϬϬĐĂƌƐŽĨĨƚŚĞƌŽĂĚͿ for further innovation. The first pilot phase will start in early 2026 at RHI
ΕϳϲϬ'tŚĞŶĞƌŐLJƐĂǀĞĚ;уϮϬϬ͕ϬϬϬŚŽƵƐĞŚŽůĚƐͿ Magnesita's recycling site in Mitterdorf, Austria, followed by continued
~800,000 t less landfill (> 1,300 Airbus A380 by weight) collaboration to mature and extend these solutions across Europe. The
partners are already exploring next-generation applications and new
RAPTOR has high policy implications for the EU. It helps deliver the project opportunities to unlock the full potential of automated, data-
Critical Raw Materials Act by creating reliable secondary streams, it driven refractory recycling and support the transition toward a truly
enables Digital Product Passports under the Ecodesign for Sustainable circular materials economy.

China's graphite Q1-Q3 exports surpass 2024 full-year volume

Nov. 12, 2025 - China's Ministry of Commerce (MOFCOM) issued materials, and stricter end-user and end-use checks on graphite exports
Announcement No. 72 on November 9, 2025, suspending Article 2 of to the U.S. The latest adjustment only pauses the second measure, while
Announcement No. 46 (released December 3, 2024) until November 27, the military-related export ban remains in effect.
2026. The move, which involves adjusted export controls on graphite and As a strategic resource critical to the global industrial chain, graphite is
other items, has drawn significant market attention. widely used in industrial manufacturing, new energy, and electronics.
MOFCOM's 2024 Announcement No. 46, based on the Export Control Its export dynamics have long been a market focus, with U.S. import
Law of the People's Republic of China and international non-proliferation dependence and supply chain restructuring highlighting its strategic
obligations, outlined two core measures: a full ban on dual-use items value.
exported to U.S. military users or for military purposes, and in principle, U.S. import data shows China was its top graphite supplier in 2024. Other
no approval for exports of gallium, germanium, antimony, superhard major sources included Canada, Madagascar, Mozambique, Mexico,

12 [Link] Vol. 215 Nov. 2025

Brazil, South Korea, Sri Lanka, Japan, Norway, Turkey, and Germany. 49.73% year-on-year to 1,468.24 tons, a decrease of 1,452.31 tons,
China's customs data reveals robust graphite export growth in 2025. aligning with U.S. tariff hikes and supply chain localization efforts-though
From January to September 2025, total exports reached 73,678.06 tons- short-term dependence on Chinese graphite persists.
up 25,974.98 tons year-on-year and 9,634.90 tons more than the entire
2024 volume of 64,043.16 tons.

In 2024, China's top 10 graphite export destinations accounted for

79.82% of total exports (51,119.82 tons). Japan (13,374.34 tons), South
Korea (12,291.24 tons), Germany (8,568.82 tons), and the U.S. (5,025.47
The top 10 export destinations shifted notably in 2025 H1-H3. Indonesia tons) led the list.
emerged as the largest market with 24,351.22 tons, a surge of 23,980 This marks MOFCOM's third export control adjustment in November
tons from the same period in 2024. Exports to eight of the top 10 2025, with the graphite-related easing sending signals of economic and
destinations rose, except the U.S. and Turkey. U.S.-bound exports fell trade détente across multiple sectors.

China's exports of silicon carbide rise despite lower prices

Nov. 5, 2025 - According to the latest customs statistics, China's silicon with Japan's import prices the highest and U.S. prices the lowest,
carbide (SiC) exports reached 266,300 tons from January to September indicating differences in product grades and market positioning.
2025, marking a 7.12% year-on-year increase. Despite higher shipment Monthly data showed steady growth through most of the year: only
volumes, the average export price declined, reflecting both intensified January and February registered year-on-year declines, while August
market competition and changes in destination structure. recorded the highest volume at 36,400 tons, and May posted the
China exported silicon carbide to 72 countries and regions during the strongest growth rate of 51.37% year-on-year.
period, four fewer than a year earlier, yet total export volume still rose. Although China remains a net exporter, it continues to import small
The top six destinations-the United States (68,600 tons), Japan (42,900 amounts of SiC. Imports totaled 15,500 tons in the first nine months, up
tons), South Korea (22,800 tons), India (18,800 tons), Mexico (14,800 16.01% from last year. North Korea remained China's dominant supplier,
tons), and the Netherlands (12,400 tons)-accounted for 67.7% of total providing 91.6% of total imports (14,200 tons) at an average price of
exports. 2,293.5 yuan per ton, down 115 yuan year-on-year.
While shipments to the U.S., South Korea, and the Netherlands declined, Overall, China's silicon carbide trade in 2025 reflects robust global
exports to Japan, India, Belgium, Italy, Germany, Spain, Turkey, Vietnam, demand amid price pressure, with Asia and Europe driving incremental
Brazil, and Norway each increased by more than 1,500 tons, offsetting growth, while North Korea remains China's key low-cost import source.
losses elsewhere. Export prices also varied significantly by destination,

Shanxi launchs a new batch of mineral resource rights confirmation

and registration
Nov. 15, 2025 - North China's Shanxi Province, a major mineral hub, has material for metallurgy and refractory materials - spanning an estimated
initiated ownership registration for 114 natural resource units to clarify reserve area of 1,733.34 hectares. This focus aligns with Shanxi's status
property rights and strengthen conservation, the provincial Department as China's top bauxite holder, accounting for over 40% of the nation's
of Natural Resources announced recently. The move covers diverse proven reserves . The province further solidified its market presence
mineral resources including iron ore, coal, gold, copper, and bauxite in 2025, with nine bauxite exploration and mining rights fetching a
across multiple regions, with particular implications for the province's combined 23.036 billion yuan ($3.18 billion) in auctions. Additionally,
strategically important bauxite sector. 22 geological survey projects were added to the provincial reserve
Among the registered units, five are dedicated to bauxite, a critical raw pool on October 16, promising enhanced technical support for future

Vol. 215 Nov. 2025 [Link] 13

 Industry News
development . broader northern China trends: Henan Province also saw an 11.8%
production drop. In contrast, southern regions buoyed national output:
Guizhou's production surged 20.29% to 1.0936 million tons, while
Guangxi grew 3.27% to 1.0819 million tons.
Nationally, bauxite output reached 50.5155 million tons in the first 10
months, up 5.2% year-on-year, but October's 4.7723 million tons marked
a 2.2% month-on-month decrease and 6.9% year-on-year fall. However,
abundant imports have offset domestic shortages: China imported
157.3053 million tons of bauxite in January-September 2025, a 38.13
million-ton increase (32.0%) from 119.178 million tons in the same
period last year .
Despite its resource endowment, Shanxi's bauxite production declined Guinea dominated China's import sources with 12.5935 million tons,
20.56% year-on-year in October to 1.0819 million tons, contributing to followed by Australia (2.9224 million tons) and Türkiye (259,000 tons),
tight supplies in northern China- particularly in Yuncheng, where output data showed.
has yet to recover, according to industry data. This slump mirrored

Gansu confirms 700mt magnesio-dolomite discovery

Nov. 6, 2025 - Authorities in Gansu province have announced the of 20.67 percent, indicating high-quality reserves suitable for magnesium
discovery of a large magnesium-rich dolomite deposit in the Zhuanmatai smelting.
area of Pingliang City's Kongtong District, with proven resources The deposit's shallow depth, gentle dip, and stable thickness make
exceeding 700 million metric tons. The find represents a major it suitable for open-pit mining. Within the defined mining boundary,
breakthrough in regional mineral exploration. magnesium-smelting dolomite reserves total over 700 million tons, with
According to the Gansu Provincial Department of Natural Resources, an additional 300 million tons of construction-grade dolomite.
the deposit was identified through a joint exploration effort funded by Officials said the discovery provides key resource support for developing
provincial, municipal, and county governments, and carried out by the magnesium-based materials and related industries in Gansu. The dolomite
No. 146 Geological Team of the Gansu Coalfield Geology Bureau. The can also be used in refractories, metallurgy, glass, and ceramics, offering
surveys outlined five stratiform ore bodies with an average MgO content strong potential for industrial utilization and regional economic growth.

EAEU imposes anti-dumping duties on graphite electrodes imported

from China
Nov. 20, 2025 - The Eurasian Economic Commission (EEC) announced a 19.92% duty;
on November 17 the completion of an antidumping investigation into Fangda Carbon New Material Co., Ltd. faces a 21.73% duty;
graphite electrodes with a diameter of more than 520 mm but not Jiangsu Jianglong New Energy Technology Co., Ltd. is assigned a 22.51%
exceeding 650 mm imported from the People's Republic of China into the duty;
customs territory of the Eurasian Economic Union (EAEU). Concurrently, Anshan Carbon Co., Ltd., Yingkou Deyuan Carbon Co., Ltd., and Liaoning
the EEC's Board adopted a decision to impose a 5-year antidumping duty Dantan New Materials Co., Ltd. will pay a 20.83% duty;
on such products, in line with relevant regional trade regulations. All other Chinese producers of the targeted graphite electrodes will be
Specifically, the antidumping duty rates vary by Chinese manufacturer: levied a uniform 22.51% duty.
Jilin Carbon Company, Ltd. and Jimeng Carbon Co., Ltd. will be subject to

Guinea accelerates alumina refinery projects to boost mineral value-

addition
Nov. 12, 2025 - Guinea is accelerating its efforts to build a domestic According to the Ministry of Mines and Geology, construction is now
alumina refining industry as part of a broader plan to increase the value- underway on a 1.2-million-ton-per-year alumina refinery in the Boffa
addition of its vast bauxite resources and reduce reliance on raw ore region, with completion targeted for late 2027. The project forms
exports. part of the government's strategic goal to establish five to six alumina

14 [Link] Vol. 215 Nov. 2025

refineries by 2030, building a total refining capacity of around 7 million production competitively in international markets.
tons annually. Additional investment agreements with both Chinese and
Middle Eastern partners are reportedly in advanced negotiation stages,
supporting the national push toward local processing.
Guinea is currently the world's largest exporter of bauxite, with third-
quarter 2025 exports rising 23% year-on-year to about 39.4 million tons,
despite seasonal rainfall disruptions and stricter regulatory oversight.
The government continues to encourage mining companies to advance
refining projects as a condition for long-term bauxite mining rights,
aiming to capture greater economic benefit domestically.
Officials emphasize that this industrial policy is aligned with President
Mamady Doumbouya's long-term vision for economic diversification and
resource-based industrialization. “The development of alumina refineries Nonetheless, the rapid progress of ongoing projects signals clear
marks a turning point in Guinea's mining strategy - transforming the momentum. With abundant bauxite reserves, favorable geology, and
country from a raw materials supplier to a regional processing hub,” a growing partnerships with foreign investors, Guinea is now positioning
senior ministry source said. itself as a key player not only in global bauxite supply but also in the
Industry analysts note that, while the political will and regulatory next phase of alumina refining and magnesium-aluminum materials
framework are in place, several challenges remain. These include development.
ensuring sufficient power supply, developing port and transport The accelerated refinery construction program is expected to strengthen
infrastructure, and securing financing amid tightening global capital Guinea's industrial foundation, increase export revenues, and create new
markets. At the same time, expanding alumina output globally could employment opportunities, marking a major step toward transforming its
lead to short-term oversupply pressures, requiring Guinea to position its mineral wealth into sustainable industrial growth.

China's output of refractories' downstream industries in Jan-Oct 2025

Nov. 18, 2025 - From January to October 2025, China's fixed asset investment From January to October 2025, China's cement output was 1.4 billion tons,
(excluding rural households) reached 40,891.4 billion yuan, a year-on-year a year-on-year decrease of 6.7%. In October, the cement output was 148
decrease of 1.7% (calculated on a comparable basis). National real estate million tons, a year-on-year decrease of 15.8%, making it the month with
development investment was 7,356.3 billion yuan, a year-on-year decrease the lowest output except for January-February (during the Spring Festival
of 14.7% (calculated on a comparable basis). Among them, residential holiday). China's output of flat glass was 805.43 million weight boxes, a year-
investment was 5,659.5 billion yuan, a decrease of 13.8%. Real estate on-year decrease of 4.4%.
investment is still on the decline, continuing to drag down downstream During the first ten months of this year, the cumulative output of ten non-
industries of refractories such as steel, cement and glass. ferrous metals reached 68.14 million tons, representing a year-on-year
During the first ten months of 2025, China's pig iron output was 711.37 growth of 3.1%. Among them, the output of electrolytic aluminum was 37.75
million tons, a year-on-year decrease of 1.8%. Crude steel output was 817.87 million tons, with a year-on-year growth of 2.0%. The increase in the output
million tons, a year-on-year decrease of 3.9%. In October, the decline in the of non-ferrous metals has brought a glimmer of hope to refractories, but
output of pig iron and crude steel was more significant, which weakened the the overall consumption still cannot offset the weakened demand in major
important demand support for refractories. refractories-consuming industries such as steel and cement.

Industry Output in Oct 2025 YoY Growth Rate (%) Output in Jan-Oct, 2025 YoY Growth Rate (%)
(Million Ton) (Million Ton)
Pig iron 65.55 -7.9 711.37 -1.8

Crude steel 72.00 -12.1 817.87 -3.9

Cement 147.75 -15.8 1,399.85 -6.7

Flat glass 82.50 (mln weight case) 3.3 805.43 (mln weight case) -4.4

Electrolytic aluminum 3.80 0.4 37.75 2.0

Ten non-ferrous metals 6.95 2.9 68.14 3.1

Coke 41.90 1.5 419.05 3.3

Vol. 215 Nov. 2025 [Link] 15

 Industry News
Global crude steel production down 5.9% YoY in October 2025
Nov. 21, 2025 - World crude steel production for the 70 countries Crude steel production by region
reporting to the World Steel Association (worldsteel) was 143.3 million Africa produced 2.0 Mt in October 2025, up 0.8% on October 2024. Asia
tonnes (Mt) in October 2025, a 5.9% decrease compared to October and Oceania produced 102.4 Mt, down 8.2%. The EU (27) produced 10.8
2024. Mt, down 3.5%. Europe, Other produced 3.6 Mt, up 3.8%. The Middle
Crude steel production East produced 5.4 Mt, up 9.2%. North America produced 9.1 Mt, up
4.7%. Russia & other CIS + Ukraine produced 6.4 Mt, down 5.1%. South
America produced 3.7 Mt, down 1.1%.

Top 10 steel-producing countries

China produced 72.0 Mt in October 2025, down 12.1% on October 2024.
India produced 13.6 Mt, up 5.9%. The United States produced 7.0 Mt,
up 9.4%. Japan produced 6.9 Mt, down 1.0%. Russia is estimated to have
produced 5.3 Mt, down 6.2%. South Korea produced 5.1 Mt, down 5.8%.
Türkiye produced 3.2 Mt, up 3.1%. Germany produced 3.1 Mt, down 3.0%.
Brazil produced 3.0 Mt, down 2.7%. Iran produced 3.3 Mt, up 12.0%.

If you want to release any comppany news on the next issue, you are welcom
me to send it to
refwin@[Link] m before Dec. 20, 2025.

16 [Link] Vol. 215 Nov. 2025

Vol. 215 Nov. 2025 [Link] 17
 Company News
Calderys Group celebrates 160 years of innovation and industrial
excellence
Nov. 4, 2025 - In 2025, the Calderys Group celebrates its 160th Premises of Calderys Group history:
anniversary, marking a legacy than began in 1865 in Pennsylvania through 1865: Creation of the Star Fire Brick Company in Pennsylvania, USA.
the origin of HWI, the brand of the Americas region of the Group. 1875: Hay Walker Sr. and Samuel P. Harbison acquired the Star Fire Brick
From 1865 to today, the Group's journey has been shaped by people, Company and established the Harbison & Walker Company (renamed
technology, and expertise, with a steadfast focus on offering innovative Harbison-Walker Refractories Company at the very beginning of the 20th
and customized solutions to protect the equipment of industries century).
operating in extreme conditions. 1902: Beginning of the Group's activities in Europe, in Sweden.
As the decades passed, the Group's presence which started mainly 1908: Lafarge invented aluminous cement in France.
in the United States and in Europe, expanded both organically and 1914: Beginning of operations in India; development of the first
by acquisitions, across continents and across industries. Generations monolithic refractory in the US and creation of the Pliable Firebrick
of colleagues have built a legacy of excellence that continues to fuel Company (Plibrico).
industries and enables progress around the world. 1926: Creation of Stollberg, the ancestor to Calderys' steel casting fluxes
Today, Calderys Group combines a unique heritage with a forward- business, in Germany.
looking commitment to serving industries that form the backbone of the 1934: Establishment of S&B, the ancestor to the Group's molding sand
global economy. additive activities, in Greece.
“Our 160-year anniversary is much more than a number. It is the story
of people who built, innovated, and shaped an industry that remains
vital to modern life. Every step of our legacy reflects our commitment
to excellence and our ability to deliver value across steel, cement,
energy, petrochemical, metal casting, and many other high-temperature
industries. This journey inspires us as we continue to deliver safe,
efficient, and more sustainable solutions for our customers worldwide,”
says Michel Cornelissen, President and CEO of Calderys.
To mark this milestone, the Group is releasing a special four-part video
series retracing its journey through history - from 1865 to 2025. The
series highlights both key company milestones and global events, Latest milestones of the Group:
showing how refractories and other high-temperature solutions have 2002: ANH Refractories was established in the US through the merger of
accompanied global progress and continue to play a critical role in A.P. Green, NARCO, and Harbison-Walker Refractories Company.
building the future. 2005: Plibrico and Lafarge Refractories merged under the Imerys Group
to form Calderys.
This moment marked the beginning of the Calderys brand's journey.
2015: ANH Refractories was rebranded to become HarbisonWalker
International (HWI).
2023: Calderys was acquired by a privately owned company and
combined with HarbisonWalker International to form the Calderys Group
as it is today, with HWI, a member of Calderys the brand for the Americas
region of the Group. Together, they form a premier, world-class provider
of comprehensive high-temperature solutions.

SHINAGAWA partners with Sheffield Hi-Tech Refractories to boost

global steel industry
Nov. 18, 2025 - SHINAGAWA REFRA and Sheffield Hi-Tech Refractories collaboration, working together to help the global steel industry reach
are joining forces! They have signed a term sheet to formalize the new heights in safety, performance, and cost efficiency.

18 [Link] Vol. 215 Nov. 2025

This partnership marks another major step forward in the One
SHINAGAWA initiative - driving innovation, excellence, and cross-border
collaboration.
Sheffield Hi-Tech Refractories is a European-based refractory
manufacturer, offering state-of-the-art heat-resistant products and
solutions for various industries. In particular, its one-of-a-kind STOPFIX is
an innovative flow-control system for the steel manufacturing process.
This technology enhances casting operations, creating a safer and more
efficient work environment.
Combining Sheffield Hi-Tech Refractories' technological strength with
SHINAGAWA's 150 years of experience, the two will act as a unified team
to confidently support and revolutionize the global steel industry.

JT Thorpe Group enters the Canadian refractory market with its

acquisition of ThorCan
Nov. 3, 2025 - JT Thorpe Group, Inc., a leading North American provider unmatched value, safety performance, and technical capabilities to our
of outsourced industrial maintenance services, including refractory, clients across the continent.”
fireproofing, insulation, coatings, scaffolding, and mechanical services, ThorCan's management team and employees will join JT Thorpe Group's
announced today that it has acquired ThorCan Construction & expanding network of companies, which includes JT Thorpe & Son, Inc.,
Refractories (“ThorCan”), a premier refractory services company based in K&G Industrial Services, and Brahma Group, Inc. The acquisition ensures
Ontario, Canada. continuity for ThorCan's customers and employees, while providing
This strategic acquisition marks JT Thorpe Group's official expansion into access to broader resources, advanced technology, and a shared
the Canadian refractory market, further strengthening its position as the commitment to operational excellence.
largest and most experienced industrial refractory contractor in North “Joining JT Thorpe Group opens an exciting new chapter for ThorCan,”
America. ThorCan, founded in 2003, has built a strong reputation for said Neil Lawson, President and Chief Executive Officer of ThorCan.
quality, safety, and technical excellence in refractory design, installation, “Our partnership brings together two organizations with the same core
and maintenance services across Canada's cement, refining, and metals values: safety, integrity, and a passion for solving our customers' toughest
sectors. technical challenges. This combination allows us to grow stronger
“The acquisition of ThorCan represents an important milestone in our together while continuing to deliver exceptional service to our clients
North American growth strategy,” said Kevin Howard, Chief Executive throughout Canada and beyond.”
Officer of JT Thorpe Group, Inc. “ThorCan's longstanding reputation for The acquisition reinforces JT Thorpe Group's commitment to growth
quality craftsmanship and deep industry expertise perfectly complements through strategic partnerships and investments that enhance its service
our existing operations in the United States. Together, we will deliver offering and geographic reach across key industrial markets.

Monolithisch India acquires Mineral India Global Private Limited

Nov. 17, 2025 - The acquisition of Mineral India Global Private Limited where scale increasingly defines competitiveness. Ramming mass - a
(MIGPL) by Monolithisch India received shareholder approval earlier critical consumable material used to line the inner walls of induction
this month, on November 8, 2025. Two days later, on November 10, furnaces - plays an indispensable role in steel and alloy production. As
both entities signed the Share Purchase and Shareholders' Agreement the Indian steel industry continues to expand and modernise, suppliers
that laid out the structured, multi-stage path to the acquisition. With like Monolithisch find themselves at the intersection of rising demand
all stages now completed, MIGPL stands as a wholly owned subsidiary and a market that is primed for consolidation and quality standardisation.
of Monolithisch India Limited - a transition the company believes will MIGPL brings substantial value to this equation. With a strong customer
reshape its growth trajectory in the years ahead. base across Chhattisgarh and other regions in central India, the company
For Monolithisch India, the significance of this acquisition goes well has long been considered a dependable supplier to mid-sized and large
beyond legal completion. The integration of MIGPL expands the steel producers. In the last financial year, MIGPL reported a turnover
company's total installed capacity to 2,63,600 tonnes per annum, a ŽĨ ༤ϰϵ͘ϯϵ ĐƌŽƌĞ ĂŶĚ Ă ƉƌŽĨŝƚ ĂĨƚĞƌ ƚĂdž ŽĨ ༤ϲ͘ϯϬ ĐƌŽƌĞ͕ ƵŶĚĞƌƐĐŽƌŝŶŐ
sizeable leap that strengthens its manufacturing footprint in a sector both operational reliability and consistent market engagement.

Vol. 215 Nov. 2025 [Link] 19

 Company News
For Monolithisch, absorbing this network strengthens not just its itself to offer a more unified and quality-consistent product line at scale.
geographical footprint but also its ability to provide seamless supply to a The company believes that this integration will improve production
wider base of industrial customers. planning, enhance raw material procurement efficiency and allow for
more predictable supply cycles. At the same time, the acquisition gives
Monolithisch deeper penetration into markets where MIGPL has already
established strong relationships, creating an expanded canvas for growth.
While the company has not disclosed specific integration timelines,
people familiar with the sector note that such transactions often lead
to the introduction of standardised manufacturing protocols, shared
technical expertise and a more research-driven approach to product
improvement. Monolithisch is expected to derive significant efficiencies
from shared back-end operations, consolidated logistics approaches and
a unified distribution network. The company has also indicated that with
Speaking about the milestone, Harsh Tekriwal, Managing Director increased scale, it will be able to invest more aggressively in innovation,
of Monolithisch India Limited, described the acquisition as a natural development of improved ramming mass grades and enhanced customer
extension of the company's forward-looking, integrated growth strategy. support services - all of which could help it tap into the growing demand
“This acquisition marks an important step in our growth strategy,” he from modernised steel furnaces.
said. “MIGPL's strong market relationships and operational capabilities The acquisition also comes at a time when the industry is gradually
align perfectly with our vision of building a unified, scalable, and more shifting towards more technical and performance-oriented products.
efficient business. By bringing the entire ramming mass portfolio under Steel producers increasingly look for ramming mass solutions
one roof, we are not only strengthening our manufacturing footprint but that offer improved furnace lining life, better heat resistance and
also enhancing our ability to serve customers with greater agility and optimised consumption rates. With MIGPL's operational strengths
consistency.” and Monolithisch's expanding manufacturing footprint, the combined
Tekriwal's emphasis on agility is not incidental. In the ramming entity is expected to elevate its capabilities in offering customised and
mass industry, the ability to respond quickly to furnace shutdowns, performance-driven solutions to both existing and new clients.
maintenance cycles and fluctuating material requirements plays a pivotal From the company's perspective, the completion of the MIGPL
role in a supplier's value proposition. Steel manufacturers often operate acquisition represents more than a transaction - it is a statement
under tight timelines, where even short pauses in furnace operations of intent. Monolithisch India has articulated a vision that centers
translate to significant production and revenue losses. In such a scenario, on capacity expansion, customer-centric innovation and long-term
consolidating manufacturing units, streamlining logistics and simplifying sustainability-driven value creation. As it brings MIGPL fully under its fold,
supply channels can become powerful differentiators - ones Monolithisch the company believes it is better equipped to weather market cycles,
expects to harness with the addition of MIGPL. respond to fluctuations in steel demand and build a stronger, future-
The broader industry context underscores the relevance of this ready organisation capable of supporting India's industrial ambitions.
integration. India's steel consumption has been growing steadily over While industry watchers will be keen to observe how quickly the
the last decade, fuelled by government-driven infrastructure projects, synergies translate into operational gains, the strategic logic behind
expanding urban development, a stronger domestic manufacturing base the integration is clear. By unifying the Mineral Group's ramming mass
and rising demand across the automotive and engineering sectors. As business under one roof, Monolithisch India has positioned itself to
capacity additions continue across large and mid-tier steel plants, the compete more decisively in an evolving market landscape - one where
need for reliable refractory inputs, including ramming mass, becomes scale, consistency and technical sophistication increasingly define
more urgent. Historically, however, the ramming mass sector has been success.
fragmented, with small and medium-scale suppliers dominating different As the dust settles on the final tranche of the acquisition, Monolithisch's
regional pockets. This often resulted in inconsistencies in quality, consolidation move stands out not just as a corporate restructuring
logistical challenges and variability in pricing. exercise, but as a transformative step that could reshape supply dynamics
By consolidating MIGPL's operations, Monolithisch India is positioning across a critical segment of India's steel ecosystem.

ARAP unveils N1.3bn monolithic refractory plant in Nigerua

Nov. 4, 2025 - African Refractory and Allied Products, ARAP, a subsidiary monolithic refractory plant in Ogijo, Ogun state.
of the African Industries Group, AIG, unveiled N1.3 billion Nigeria's first The refractory plant was commissioned by the Special Adviser to the

20 [Link] Vol. 215 Nov. 2025

Governor and Deputy Director-General of the Ogun State Investment the company has a track record of excellence in the manufacturing sector
Promotion and Facilitation Agency (OgunInvest), Ms. Sola Arobieke. and pledged its dedication to the country's industrial advancement
Arobieke said the plant is laudable effort by the company and that it is including its host state, Ogun's growth.
a game changer for the nation's steel industry, which is first of its kind
in Nigeria, and would significantly reduce importation of steel into the
country, therefore, add value to steel products manufactured locally.
Meanwhile, the refractory is going to serve multiple industries including
steel, cement, glass, aluminium and food processing, which would lead
to creation of jobs and boosting Micro Small and Medium Enterprises,
MSMEs, therefore, attract investors.
In a remark, the Director, ARAP, Mr Don Terblanche while welcoming
guests to the commissioning, assured that his company is fully on ground
and ready to deliver high-quality refractory products according to global
standards to satisfy the industrial demands that would come from various
sectors of the economy.
Also, the Director, Corporate Affairs, African Industries Group, Mr. Taiwo The commissioning also had in attendance the Chief Operating Officer,
Okeowo, in his speech explained that the refractory plant portrays AIG's COO, ARAP, Mr. Arindam Gupta, also including other senior directors of
commitment to Nigeria's industrial growth and development, and that the company.

NMG and Traxys finalize offtake agreement for natural flake graphite
Nov. 4, 2025 - Nouveau Monde Graphite Inc. and Traxys North America optimize our sales strategy, and deliver long-term value to our customers
LLC, an international metals and minerals trading house, have updated and shareholders.”
and strengthened their existing relationship by finalizing a binding
amended and restated joint marketing and offtake agreement for 20,000
tonnes per annum ("tpa”) of graphite concentrate from the Company's
Phase-2 Matawinie Mine, the execution of which is subject only to the
approval of the Traxys board.
The collaboration targets the refractory market, a US$45-billion global
market with a projected compound annual growth rate of 9.1% to 2033
(Grand View Research, 2025), to serve steel making industries with
refractory applications such as bricks, electric arc furnaces, crucibles, and
carbon raisers.
Dennis Gates, Traxys' Head of Industrial Metals, announced: "Traxys
has supported NMG's vision for many years. We are excited to see
the positive results of the team's long-term vision and look forward
to working with NMG for many years in the future." Eric Desaulniers, Offtake and Marketing Agreement
Founder, President, and CEO of NMG, stated. The 2025 Traxys Binding Offtake and Marketing Agreement is intended
Across the Western World, the transformation of the steel and to cover the purchase and commercialization of 20,000 tpa of graphite
manufacturing sectors is creating strong, sustained demand for high- concentrate to be sourced from NMG's Phase-2 Matawinie Mine. With
performance refractory materials - and graphite sits at the heart of it. an initial seven-year term following the start of full-scale production, the
“'Industries are seeking reliable, high-purity, and responsibly produced agreement is expected to include sales pricing based on market indices
graphite to ensure supply security and continued growth. With North with respect to the 10,000 tpa firm take-or-pay volume.
American and European economies reshoring critical mineral value Traxys' established relationships with hundreds of industrial customers
chains and manufacturing capacities, we see compelling opportunities enables NMG to tap into a stable, growing industry for refractory
to partner with Traxys to serve steelmakers and refractory producers. products in North America and Europe.
Traxys' global presence and insight help us accelerate market access,

Vol. 215 Nov. 2025 [Link] 21

 Company News
Metro Mining expects to increase bauxite volume in 2026
Nov. 24, 2025 - Metro Mining is set to further boost volume in improve the balance sheet,” Wensley added.
2026 through debottlenecking at its Bauxite Hills Mine in Far North Bauxite Hills has been operational since April 2018. As of the end of
Queensland. CEO Simon Wensley says with the company's expansion 2024, it had an estimated reserve of 77.7 million tonnes and a resource
fully in place, “investors can expect a strong finish to the year”, as well as of 114.4 million tonnes. The mine employs over 300 people, and since
shipments totaling 6.5 million wet metric tonnes of bauxite. 2022 has maintained an indigenous workforce accounting for 35% of its
“Against the current geopolitical backdrop, Metro's market reputation total employees – exceeding its Traditional Owner employment target of
and offtake agreements with established customers significantly mitigate 30%.
risks amid market uncertainty and provide a secure investment for our Market context shows global bauxite prices spiked in late 2024 and
shareholders,” Wensley told this news service. early 2025 due to severe supply disruptions from Guinea and reduced
Metro Mining has consistently set new bauxite shipment records in 2025. production in China. Meanwhile, slow global growth trimmed global
In August, the company increased its production rate by 6% year-on- primary aluminium demand by 1.8% year-on-year to 17.44 million tonnes
year to 753,101 wet metric tonnes at Bauxite Hills, following 714,000 in Q1 2025. Chinese primary aluminium demand fell 2.4% year-on-year
wet metric tonnes shipped in July 2025 and 589,000 wet metric tonnes to 11 million tonnes in the same quarter. Conversely, Indian and US
in June 2024. The momentum continued into September, with a single- industrial consumers accelerated primary aluminium purchases ahead of
month record of 779,000 wet metric tonnes. looming US tariffs. Cost-cutting by automotive makers drove greater use
For Q3 2025, the company achieved another record shipment of 2.3 of recycled aluminium, pushing secondary aluminium demand up 5.1%
million wet metric tonnes, bringing year-to-date (YTD) shipments to 4.1 year-on-year to 6.7 million tonnes in Q1 2025.
million wet metric tonnes as of the end of September. Wensley noted Australian bauxite producers, including Metro, have ramped up output
that in Q2 2025, the Bauxite Hills site generated an EBITDA of $32 per in response to supply disruptions from Indonesia and Guinea. According
tonne, “which also gives a sense of the cash generation potential of the to the Department of Industry, Science and Resources' September 2025
business moving forward”. Resources and Energy Quarterly, Australia's bauxite output reached 102
The company delivered a record net profit after tax of $120 million for H1 million tonnes in 2024 , and is projected to rise to 110 million tonnes by
2025. “In the second half, Metro has also continued to pay down debt to 2026-27 on new projects and sustained existing mine output.

Tata Steel Nederland acquires power plants to strengthen energy

independence
Nov. 6, 2025 - Tata Steel Nederland (TSN) has officially signed an for many decades. The uniqueness of these stations is that they do not
agreement to acquire Vattenfall's energy assets in the Aymond region run on natural gas or coal, but mainly on by-product gases generated
to strengthen its energy independence. The financial terms of the during steel production.
transaction have not been disclosed, according to a press release. The expiration of the current contract at the end of 2025 was an
After the final agreement is signed, all employees of Vattenfall's local opportune moment to transition to full control of these assets. According
power plants will be transferred to TSN, and the transfer of assets will to van den Berg, this will allow the company to more controllably
take place on January 1, 2026. implement a complex and phased transition to low-carbon technologies
and green steel production.
Vattenfall also supports TSN's transformation. Alexander van Oveweg,
senior vice president of the company, stressed that thermal power plants
in Wels will continue to play an important role in decarbonization. He
called the agreement a win-win for everyone.
“Employees retain their jobs and conditions, and Tata Steel gains greater
control over the energy chain, accelerating the transition to CO2-efficient
production,” Van Ofwegen commented.
The complex consists of three stations. Two of them – units 24 and 25 in
Welsen-Noord – generate electricity by burning process gases from the
TSN CEO Hans van den Berg noted that Vattenfall's energy facilities have steelworks. The third, IJmond 01, is located directly on the TSN site in
been logically integrated into the metallurgical plant's production cycle Eemeden and operates in cogeneration mode, producing electricity and

22 [Link] Vol. 215 Nov. 2025

steam for the plant's needs. In total, these facilities employ approximately As a reminder, Tata Steel has signed a non-binding letter of intent (JLoI)
116 people. with the Dutch government to transition to low-carbon steel production
The agreement has already been given the green light by supervisory at its Eemhaven plant. The company plans to reduce emissions at its plant
authorities, including the ACM regulator. Once all approvals have been in the country as part of a project that could cost €4-6.5 billion, with the
obtained, the stations will be officially transferred to Tata Steel Nederland state contributing €2 billion.
in early 2026.

US Steel plans to build a DRI plant in Arkansas

Nov. 15, 2025 - American steel producer US Steel plans to add a new the partnership with Nippon Steel.
direct reduced iron (DRI) plant to the Big River Steel complex in Arkansas, The DRI plant in Arkansas will use DR pellets from Minnesota Ore and
according to Talk Business & Politics. produce DRI raw materials for electric arc furnaces.
Details, including the cost of the project and its implementation schedule, US Steel recently announced that it is launching a multi-year growth plan
will be announced later. in partnership with Nippon Steel. As CEO Dave Barrett noted, in just a few
“The new DRI plant at the Big River Steel Works in Arkansas will position months of partnership with the Japanese steel manufacturer, the parties
our mini-mill segment as a leader in advanced and sustainable steel are making significant progress. US Steel has a strong portfolio of growth
production,” US Steel spokeswoman Amanda Malkowski told the projects, ranging from the modernization of the hot rolling mill at Gary
publication. Works to a new slag processor at Mon Valley Works and the development
She added that this will strengthen US Steel's advantage in the raw of new production capacity.
materials sector and domestic supply chain. The investment underscores

Vol. 215 Nov. 2025 [Link] 23

 Market Analysis
Market review of calcined bauxite in November
Nov. 14, 2025 - In November, the market price of calcined bauxite remains Shanxi region remains tight. The Huangjiagou mine maintains normal
stable compared with last month. Due to differences in specifications production, but its output is limited, prices are high, and the quality
among calcined bauxite producers, current quotations have also of the bauxite ore is average. Although the Yuanping mine is still
exhibited certain variations. Although current demand remains modest, operational, its bauxite ore is brittle and has low strength, making it
the supply of calcined bauxite with a grade above 85% is extremely tight difficult to meet the production requirements for certain refractories.
Most other mines remain inactive. Currently, the supply of calcined
bauxite with a grade above 85% is the tightest in the market, and some
manufacturers have stated that they are mainly supplying existing
customers. If the supply of bauxite ore continues to be tight, the
pressure on high-grade calcined bauxite supply is expected to intensify.
In Guizhou, mining production is relatively stable, and bauxite ore prices
are steady, supporting stable calcined bauxite prices in the region. In
Henan, constrained by environmental policies and other factors, bauxite
ore extraction is limited, bauxite ore quality varies significantly, and price
discrepancies are considerable.
in the market, with some manufacturers prioritizing existing customers. Overall, due to the shortage of bauxite ore supply, calcined bauxite
It is learned that although the Xiangwang and Qinyuan mines previously market prices are expected to maintain a strong performance in the near
sold some raw bauxite ores, the overall supply of bauxite ores in the future.

Brown fused alumina market holds firm in November

Nov. 22, 2025 - In November, the brown fused alumina market remains some substitution, further intensifying the sales challenges for brown
generally stable, though producers continue to face considerable fused alumina suppliers.
pressure. Overall, high upstream raw material costs, persistently sluggish
The supply of high-grade bauxite is currently tight, keeping its prices downstream demand, and increasingly fierce market competition are
at elevated levels and providing a strong cost support for brown fused creating a multi-dimensional burden for producers. In the near term, the
alumina. On the demand side, manufacturers report weak consumption, BFA market is expected to maintain a weak yet stable trend under these
while the continued decline in white fused alumina prices is encouraging ongoing pressures.

Industrial alumina market continues to weaken in November

Nov. 17, 2025 - China's industrial alumina market continues to weaken already ample market supply. As a result, industrial alumina prices
in November as oversupply pressures persist. Prices extend their move steadily downward and increasingly approach breakeven levels
downward trajectory by roughly 15 CNY/t during the month, with some for many refiners.
regions now falling below producers' cost lines. Shandong records Margins have compressed sharply, driving expectations of production
the lowest regional prices, dropping under 2,800 CNY/t, while Henan, cuts among industrial alumina producers. In the northern China,
Shanxi, and Inner Mongolia hover near 2,850 CNY/t. Guizhou and maintenance outages are increasing, while southern China smelting
Guangxi remain the highest, but still above only 2,900 CNY/t. operations are running at reduced loads. These shifts introduce
China's operating capacity remains elevated, and new production from emerging support from both the cost and supply sides, and market
India and Indonesia continues to enter the market. Since September, signals now suggest that industrial alumina prices are beginning to
import arbitrage has remained open, adding further pressure to the stabilize after an extended period of decline.

Market review of white fused alumina in November

Nov. 7, 2025 - In November, the white fused alumina market remains On the raw material side, the decline in industrial alumina prices slows
sluggish, with overall trading sentiment subdued and mainstream prices significantly, showing minimal fluctuations. This stability in raw material
holding steady. High quotations continue to decrease as sellers adjust to costs provides limited support to white fused alumina prices and reduces
weak demand conditions. the pressure for further declines.

24 [Link] Vol. 215 Nov. 2025

Downstream demand remains cautious, with buyers mainly replenishing term bottom, which may help restore market confidence in the near
inventories as needed and demonstrating strong price resistance. future.
Transactions are concentrated at lower price levels, reflecting weak Overall, the white fused alumina market operates in a weakly stable
purchasing confidence. Despite the subdued market environment, most state, balanced between cost support and sluggish demand. Prices show
white fused alumina producers maintain a relatively optimistic outlook, little room for significant movement in the short term, and the market
believing that current industrial alumina prices are approaching a short- continues to hover in a wait-and-see phase.

Tabular alumina market weakens further in November

Nov. 14, 2025 - In November, China's tabular alumina market continues to prevalent “buy-on-rise, hold-on-fall” sentiment limits restocking interest,
weaken, with mainstream prices falling by roughly 200 CNY/t and overall and aggressive price bargaining among downstream users places
quotations showing significant dispersion across producers. Market additional pressure on tabular alumina prices.
participants report increasingly inconsistent offers as sellers compete for With industrial alumina showing early signs of stabilizing, the latest round
limited demand.
On the cost side, industrial alumina remains on a mild downward
trajectory, with spot prices edging lower by about 15 CNY/t during the
month and October's settlement price declining by roughly 200 CNY/
t. Reflecting these cost movements, most tabular alumina producers
reduce their offers by 50–250 CNY/t, though a few maintain previous
pricing levels due to maintenance-related production cuts.
Producers describe the current market as supply-heavy and highly
competitive, prompting many suppliers to adopt low-margin, high-
volume strategies to sustain operations. Demand remains weak as
downstream buyers follow a cautious, on-demand procurement pattern of price adjustments may bring a short period of mild stability to the
amid expectations of further price softness in industrial alumina. The tabular alumina market.

Calcined alumina market remains weak in November

Nov. 28, 2025 - Calcined alumina market remains weak in November, with variation exists in product quality and pricing, resulting in a highly
prices edging down by approximately 50 CNY/t and transaction levels still fragmented competitive landscape.
hovering at the lower end of the range. On the demand side, downstream refractory and ceramics industries
Industrial alumina, the primary raw material for calcined alumina, also continue to show weak performance, with low purchasing enthusiasm and
softens slightly this month, down around 20 CNY/t from late October. As subdued transaction activity. Buyers predominantly adopt a demand-based
the reduction in raw material costs is limited and does not significantly procurement approach, and willingness to build inventory remains minimal.
impact production costs, some producers keep their previous quotations With industrial alumina prices already approaching the bottom range,
unchanged, while others apply minor price cuts to support sales. Due to the calcined alumina market is expected to maintain a stable trend in the
differences in raw material sources and production processes, notable short term.

Mullite market update in November

Nov. 26, 2025 - The fused mullite and sintered mullite market remain Bauxite supply continues to be tight in China, and its price remains
stable in November. elevated, providing solid cost support for sintered mullite. However, the
Industrial alumina prices show a mild downward fluctuation this month, large number of sintered mullite manufacturers and intensified market
but the decrease is minimal—about 20 CNY/t—and prices in Shandong competition, combined with subdued downstream demand, limit the
are now stabilizing around 2,775 CNY/t. As a result, production costs for possibility of price increases despite cost firmness.
fused mullite show limited change, and most producers keep their prices Overall, the mullite market continues to operate in a weak but stable
unchanged. trend.

Vol. 215 Nov. 2025 [Link] 25

 Market Analysis
Kyanite Shortage Intensifies, while andalusite and Sillimanite Stable
Nov. 27, 2025 - In November, mainstream EX-Works quotation for that a shipment of Australian kyanite is expected to arrive at Chinese
domestic andalusite particles (55%) stands at 590 USD/t . For domestic ports in approximately one month, but uncertainties in shipping and
sillimanite with 55% alumina content (80-120 mesh), the mainstream production processes mean that the realization of normal supply
ƉƌŝĐĞŝƐϲϱϬh^ͬƚ͘DĞĂŶǁŚŝůĞ͕ƵƐƚƌĂůŝĂŶͲŽƌŝŐŝŶŬLJĂŶŝƚĞ;ϱϱйůЇKЈ͕ϴϬͲ remains questionable.
120 mesh) offered by domestic suppliers is priced at 458USD/T, 28 USD/T For andalusite, the overall market supply-demand balance remains
higher than the previous month. However, the kyanite market is currently stable, with prices maintaining steady levels. In contrast, the sillimanite
facing a supply crunch, with most manufacturers prioritizing deliveries to market is experiencing weak downstream demand, leading to sluggish
long-term clients and suspending new sales to external buyers. purchasing sentiment. The mainstream ex-factory price (including tax)
Recently, the tight supply situation in the kyanite market has further ĨŽƌ/ŶĚŝĂŶƐŝůůŝŵĂŶŝƚĞǁŝƚŚϱϴйůЇKЈĐŽŶƚĞŶƚŝƐĂƌŽƵŶĚϳϬϱh^ͬd͘
intensified, with several Australian kyanite suppliers grappling with Customs data shows that in September, China imported 891 tons of
stock shortages. The primary driver behind the supply deficit is the andalusite from South Africa and 24 tons from France.
continuous decline in kyanite content in imported zircon ore, which Looking ahead, kyanite prices are expected to have further upside
has restricted raw material sources. Amid sustained consumption, potential in the short term, while andalusite and sillimanite prices are
domestic kyanite inventories have now hit a low level. It is reported projected to remain stable.

Caustic calcined magnesia prices rise in November

Nov. 28, 2025 - In November, efforts to dismantle light-burning shaft kilns Technology issued a notice on the "Work Plan for Phasing Out Light-
as part of year-end environmental initiatives have gradually advanced. Burning Shaft Kilns in Anshan City" .The shutdown and capacity
This has led to a slight tightening of caustic calcined magnesia supply in replacement of outdated light-burning shaft kilns have accelerated
the short term, driving market prices upward. Currently, the FOB price for the withdrawal of inefficient production capacity, effectively curbing
85% CCM remains at 160-170 USD/t, while 90% CCM stands at around overcapacity, facilitating orderly inventory consumption, and providing
175-200USD/t. Some enterprises have set their offerings at around 210 solid support for the caustic calcined magnesia market.
USD/T, with market prices generally trending toward the higher end of On the demand side, the domestic market has entered the peak season
the spectrum. for caustic calcined magnesia. Some enterprises report a modest increase
In mid-November, the Anshan Bureau of Industry and Information in sales since September compared to earlier months. For exports, data
from the National Bureau of Statistics shows that total exports rose by
3.35% in October, with cumulative exports from January to October
increasing by 13.60% year-on-year.
Overall, driven by the policy-driven phase-out of light-burning shaft
kilns, enterprises in the caustic calcined magnesia market maintain a
strong bullish sentiment in the short term, leading to a generally robust
market performance in November. Looking ahead, as regulatory effects
deepen and cost support persists, the caustic calcined magnesia market
is expected to sustain its strong momentum over the next 1-2 months.

Fused magnesia market in a sluggish state

Nov. 10, 2025 - The fused magnesia market showed no significant Downstream industries such as steel and building materials are in a
improvement in November, operating weakly and stably amid sluggish slump, directly weakening procurement demand for refractory materials.
supply and demand. Prices remained stagnant with muted transactions: Most fused magnesia producers have thus reduced production load or
FOB prices for FM 96-96.5% lump stood at 485-515 USD/t, and FM 97- suspended operations for maintenance, keeping the industry's overall
97.5% lump at 540-615 USD/t, reflecting a stalemate between buyers and operating rate low.
sellers. In the short term, attention focuses on potential year-end inventory
Upstream enterprises have limited room for price cuts due to high costs, replenishment. Some downstream enterprises may stock up on
with magnesite ore prices remaining elevated and electricity costs facing raw materials in December to mitigate anticipated Spring Festival
uncertainty. transportation disruptions. However, the market's weak and stable

26 [Link] Vol. 215 Nov. 2025

pattern is unlikely to change soon, as a genuine recovery hinges on a substantial rebound in downstream end-user demand.

Dead burned magnesia market remains weak

Nov. 10, 2025 - In November, the dead burned magnesia (DBM) market Overall, the impact of costs on the dead burned magnesia market is
maintained a weak trend. Despite price support from the cost side, relatively limited.
sluggish demand coupled with inventory pressure left the market lacking Demand remains a major predicament for enterprises. Affected by
upward momentum, with no substantial improvement from the previous reduced end-user demand, the situation of production cuts and
period. shutdowns among dead burned magnesia enterprises has not fully
Currently, the mainstream FOB price of DBM 90% lump is around 195 improved, with overall capacity utilization rates still at a low level.
USD/T; that of DBM 95% lump is quoted at approximately 220 USD/T; Notably, as the year-end approaches, downstream buyers may adjust
DBM 90% stands at about 360 USD/T; and the reference FOB price for their production plans and replenish inventories in the short term.
DBM 96.5%-97% ranges from 345-360 USD/T. The dead burned magnesia market is expected to remain in a low-range
The main associated costs for dead burned magnesia are generally stable, operation in the near term. Driven by year-end stockpiling by buyers,
and the supply of magnesite ore remains steady for the time being. shipment volumes may see a slight uptick in the short run.

Large crystal fused magnesia market holds weakly steady

Nov. 18, 2025 - In November, the large crystal fused magnesia market The demand side is the core factor restricting the market. Due to limited
operated weakly and steadily. Despite certain support from the cost growth in end-user refractory material demand, orders for large crystal
side due to policy impacts, the fundamentals of weak demand remained fused magnesia were mainly small-batch inventory replenishment.
unchanged, leaving the market lacking upward momentum. In terms Although there is rigid demand for high-grade products in the high-end
of prices, the reference FOB price for 97.%-grade large crystal fused refractory material sector, the overall consumption volume is insufficient
magnesia lump was around 720 USD/T, while the quotation for 98.2% to offset the industry's weak demand. Meanwhile, affected by the
high grade lumps reached 980 USD/T thanks to their purity advantage. sluggish recovery of the global manufacturing industry, export order
Regarding production costs, in accordance with the requirements of growth has slowed down, further suppressing market activity.
Liaoning's magnesite industry policies, all light-burning reverberatory kilns In the short term, the weak demand for large crystal fused magnesia is
will be fully phased out by the end of 2025. This has led to a contraction unlikely to change. The market is expected to remain weakly steady with
in the supply of traditional ore magnesium powder dependent on this no significant price fluctuations. In the long run, the policy of phasing
process, resulting in significant upward price pressure and pushing up out traditional light-burning reverberatory kilns will accelerate industry
production costs for some enterprises. In contrast, enterprises adopting restructuring, and enterprises adopting advanced technologies such as
the fluidized bed kiln process benefit from a wider adaptability to ore fluidized bed kilns are expected to increase their market share by virtue
grades and more advantageous raw material procurement costs, keeping of cost advantages.
their cost pressure relatively manageable.

Magnesia alumina spinel prices show divergent trends

Nov. 11, 2025 - In November, quotations of FMB70 fused magnesia supported stable raw material costs. The number of manufacturers of
alumina spinel aggregate continued to adjust, with the mainstream this product is limited, and downstream market demand is contracting.
market price ranging from 705-735 USD/T, a decrease of 30 USD/T from There are also few suppliers of alumina-based sintered magnesia-alumina
the previous month. Quotations of SMB-60 bauxite based sintered spinel, with no temporary adjustment to current quotations.
magnesia alumina spinel particles remained stable at 462-640 USD/T. On the downstream demand side, downstream enterprises purchase
The mainstream quotation of SMA76 alumina based sintered magnesia mainly on an as-needed inventory replenishment basis, and the overall
alumina spinel particles was 870 USD/T, showing more stability than the procurement demand for magnesia alumina spinel remains stable
fluctuating fused magnesia-alumina spinel. without significant volume increase or reduction.
From the raw material side, domestic industrial alumina prices kept Refractories Window suggests continuously monitoring the transmission
falling, breaking below 2,800 CNY/t, which became the main driver impact of raw material price fluctuations and downstream industry
for the price cut of fused magnesia alumina spinel. For bauxite based demand changes on product prices.
sintered magnesia-alumina spinel, tight bauxite supply and rising prices

Vol. 215 Nov. 2025 [Link] 27

 Market Analysis
Flake graphite market review in November
Nov. 14, 2025 - According to a recent Refwin survey, in November, the ex- and demand has been somewhat better than in the first half of the year.
works prices of flake graphite of -194 grade, -195 grade and -196 grade The import and export performance has been relatively optimistic.
remain stable compared with last month. From January to September, China's exports of flake graphite reached
The current FOB price of refractory grade flake graphite is as follows: approximately 73,600 tons, a year-on-year increase of 67.06%, while
flake graphite of -194 grade is quoted at 411-440 USD/t, -195 grade is total imports amounted to about 35,000 tons, a year-on-year increase of
approximately 440-470 USD/t, and -196 grade flake graphite is priced at 77.02%.
around 496-525 USD/t. Since the beginning of this year, the flake graphite market has remained
In terms of production, due to colder weather and sluggish downstream generally stable. With some companies halting production for
demand, some companies have suspended production for maintenance maintenance, market supply pressure has eased, and it is more likely that
and are primarily focused on selling existing inventory. In terms of the market will remain stable in the later period.
downstream demand, customers have slightly increased their stockpiling,

Silicon carbide price increases in November

Nov. 14, 2025 - In November, silicon carbide market prices remain On the cost side, the price of imported petroleum coke continued
generally stable, with highly varied market quotations and a widening to rise significantly this month, providing strong support for silicon
price range. carbide prices. Driven by costs, silicon carbide producers showed a
strong willingness to maintain prices, and some companies raised their
quotations by 100 CNY/t. However, due to intense market competition
and tepid demand, the implementation of price increases for silicon
carbide has not been smooth, and downstream buyers continue to widely
press for lower prices.
According to a recent Refwin survey, as the actual transaction price
increase for silicon carbide falls far short of the rate of petroleum coke
price hikes, some companies have chosen to reduce their production
loads, focusing only on maintaining existing customers. Overall, market
inventory has shown a downward trend.
Currently, the FOB price of silicon carbide block 98% is around 823-872 In summary, silicon carbide companies are under significant cost
USD/t (including tax), while the FOB Tianjin price of silicon carbide block pressure, and the market needs more time to digest the price increases.
90% is around 695-738 USD per ton (including tax). Currently, buyers and sellers remain in a game of chicken.

Market overview of alumina cement in November

Nov. 28, 2025 - In November, the market for alumina cement (aluminate production cost of calcium aluminate cement sees little change. The price
cement) in China has showed a weak trend. Currently, the FOB price of adjustment this time is primarily influenced by demand and competition,
A700 alumina cement is around 329-386 USD/T. with some previously high-priced companies lowering their quotations,
The main raw materials for alumina cement are bauxite and limestone. while most companies maintain stable prices.
In November, the price of bauxite remains high and stable, while the After this price adjustment, the alumina market is expected to maintain a
price of limestone also shows no significant fluctuations. Overall, the weak but stable trend in the short term.

Calcium aluminate cement market review in November

Nov. 28, 2025 - In November, the calcium aluminate cement prices have has continued to weaken, declining by approximately 115 CNY/T
decreased by 100 CNY/T. The current FOB prices (including tax) for CA- cumulatively. It is currently experiencing narrow fluctuations and showing
70 grade calcium aluminate cement stay at 785-830 USD/T, while CA-80 signs of stabilizing. Due to this factor, some companies have reduced
grade prices are mostly in the range of 814-886 USD/T. their quotations by 100–200 CNY/T, while others that had previously
In terms of raw materials, since October, the price of industrial alumina offered lower prices have maintained their rates.

28 [Link] Vol. 215 Nov. 2025

On the production front, environmental restrictions during the heating Given that the price of industrial alumina has shown signs of stabilizing,
season have led to production rotations for enterprises in certain areas of the calcium aluminate cement market is expected to maintain a weak but
Henan. Manufacturers reported no significant improvement in demand, stable outlook in the short term.
with overall market activity remaining relatively subdued.

Market review of silica fume in November

Nov. 14, 2025 - In November, the tight supply situation in the silica
fume market persists. Prices for silica fume in Xinjiang, Gansu, and
Sichuan regions remain largely flat, with overall market prices stabilizing
temporarily.
Currently, the mainstream FOB price for 94-grade silica fume is 225-245
USD/t, while for 95-grade it is 240-270 USD/t.
As a by-product of silicon metal, silica fume production is closely linked
to the operational rates of silicon furnaces. According to relevant
reports, China's silicon metal output in October 2025 was 452,200 tons,
a month-on-month increase of 7.5% but a year-on-year decrease of 4%.
In November, the operational rate of silicon plants in Xinjiang slightly reactivity of silica fume. As a result, the silicon content in silica fume
increased. Yunnan entered the dry season, with most silicon companies produced by companies has generally decreased, and the output of silica
halting production by the end of October and a few furnaces shutting fume for refractories has continued to shrink. The supply tightness, which
down in early November, leading to a significant decline in operational has persisted since September 2024, has not eased and has instead
rates. Sichuan, in the normal water season, continued to experience intensified. Most manufacturers are operating on a schedule-based
weak operational rates. Some silicon companies may reduce or suspend production system with limited inventory, leading to price increases for
production after transitioning into the dry season, depending on furnace silica fume used in construction materials.
conditions or market dynamics. As winter approaches and the dry season continues in southwestern
Additionally, environmental requirements for desulfurization and China, if silicon metal market prices fail to improve and manufacturing
denitrification, as well as adjustments in smelting processes, have costs rise, resulting in lower furnace operational rates, the tight supply of
significantly impacted the silicon content, chloride ion levels, and silica fume is expected to persist and may intensify in the future.

Market review of silicon metal powder in November

Nov. 26, 2025 - In November, the market prices for silicon metal powder to the silicon metal powder market.
have shown a divergent trend. Currently, the FOB price for silicon metal Weak downstream demand has led to sluggish procurement intentions
powder 98%, 200-mesh mainly stays at 1,234-1,330 USD/t. However, from end-users, making it difficult to scale up orders. This has further
in actual transactions, manufacturers often set prices flexibly based on intensified homogeneous competition among manufacturers. To maintain
downstream procurement specifications and order volumes, leaving customer relationships and ensure cash flow, some companies have
room for negotiation. The overall market trend remains stable. opted to offer discounts for shipments, operating under pressure, which
In terms of raw materials, silicon metal supply in November has exhibited has significantly squeezed profit margins across the industry.
regional divergence, with significant reductions in Sichuan and Yunnan In summary, the market is dominated by the dual negative factors of
regions, while a small increase in supply from the north partially offset weak cost support and sluggish demand, lacking upward momentum. It is
the decline. Overall supply has decreased significantly month-on-month, expected that the silicon metal powder market will continue to exhibit a
and prices returned to a volatile pattern. In the short term, prices are steady and consolidating trend in the near future.
expected to remain within a narrow range, providing limited cost support

Market review of chromium oxide green in November

Nov. 5, 2025 - In November, the FOB price for chromium oxide green raising prices by 4,000–6,000 CNY/T compared to the previous month.
;ƌЇKЈϵϵй͕ϯϮϱŵĞƐŚͿƌĞŵĂŝŶƐƐƚĂďůĞĂƚϰ͕ϴϵϱͲϱ͕ϭϬϬh^ͬd͘ƵĞƚŽĂ In terms of the raw material, South Africa plans to impose a 25% export
significant increase in downstream demand for metallic chromium, the tariff on unprocessed chromium ore and establish an export licensing
supply of chromium oxide green has tightened, with most suppliers system. The policy has been approved by the cabinet and is expected to

Vol. 215 Nov. 2025 [Link] 29

 Market Analysis
further tighten global chromium ore supply. In addition, the aftereffects driven a substantial increase in orders for gas turbines, thereby boosting
of the strike at the Port of Durban in South Africa continue to affect demand for metallic chromium in high-end manufacturing sectors such
port turnover efficiency, prompting Chinese buyers to shift toward high- as gas turbines and aero engines. This, in turn, has driven up demand for
grade Turkish ore as an alternative. However, longer shipping times have chromium oxide green. Furthermore, the rapid development of emerging
increased capital occupancy costs. Meanwhile, ongoing environmental energy storage technologies such as iron-chromium flow batteries has
inspections in major domestic production regions have led to production provided additional momentum for chromium salt demand.
cuts among some small and medium-sized enterprises, exacerbating the Overall, chromium oxide green prices are expected to maintain
supply gap. Chromium salt producers are generally facing procurement upward momentum in the short term. The pace of logistics recovery
difficulties, and some have been forced to reduce output, further in South Africa, the potential expansion of environmental production
tightening the availability of material in the market and intensifying the restrictions in key domestic production areas, and the continued growth
supply–demand imbalance. in downstream demand for metallic chromium could all be key factors
In terms of end-user demand, the construction of AI data centers has triggering accelerated price increases.

Boron carbide prices tend to rise

Nov. 7, 2025 - In November, boron carbide prices trended upward, with robust.
most producers looking to raise rates, though downstream buyers largely However, weak sales countered these upward pressures. The market was
held off on adjusting their purchase prices, creating a tense market well-supplied with no shortages, while downstream refractory demand
standoff. Some firms that had undercut last month's prices inched them stayed slack, with low buying interest and fierce competition. This
up by 1,000-2,000 CNY/t. meant even as producers faced cost hikes, actual deals still allowed for
Costs were a major driver, as key raw material prices climbed. Boric acid negotiation, limiting price pass-through.
markets saw volatility in both supply-demand and pricing. Domestic Looking ahead, the boron carbide market will likely stay under pressure.
prices rose amid uncertain international tariffs and higher borax costs. If boric acid keeps rising and cost pressures mount further, boron carbide
Rising petroleum coke prices added to the burden, making production prices could see a slight uptick.
costs a direct factor in boron carbide pricing and keeping cost support

Phenolic resin prices decline further

Nov. 12, 2025 - In November, the phenolic resin market continued its downward.
downward trend. Despite the further price decline from October, market On the other hand, weak demand exacerbated the downward pressure
activity showed no signs of improvement. The reference price dropped on the market. Sluggish demand in the terminal steel industry led to
by approximately 10-50 USD/t. an overall reduction in demand for the refractory materials sector, with
From the cost perspective, the price drop of upstream phenol was one enterprises generally operating at low capacity utilization rates.
of the main drivers behind the market downturn. As a key raw material In the short term, amid insufficient upstream cost support and a lack of
for phenolic resin production, phenol prices continued to decline in positive news on the demand side, the phenolic resin market is expected
November. This pushed the overall production cost of phenolic resin to remain under pressure.

Silica brick market review in November

Nov. 28, 2025 - In November, silica brick market operated steadily overall, actual orders. The operating rates of silica brick manufacturers were
with no significant price fluctuations. notably lower compared to the same period last year. In terms of raw
The mainstream FOB price of 94 standard silica bricks for coke ovens is materials, the price of quartz sand with over 99% purity remained
around 286-329 USD/t, and the FOB price of 96A standard silica bricks for generally stable, exerting no significant impact on the production costs of
glass kilns is around 386-414 USD/t. silica bricks.
Silica brick manufacturers generally reported weak procurement Currently, the supply-demand relationship in the silica brick market
demand from downstream industries such as coking and glass. To control remains weak, with transactions primarily driven by rigid demand. In the
inventory and reduce capital occupancy, most producers continued to absence of strong demand support, silica brick prices are expected to
adopt a production-to-order strategy, scheduling production based on maintain a weak but stable trend in the short term.

30 [Link] Vol. 215 Nov. 2025

Magnesia alumina spinel bricks facing weak demand
Nov. 28, 2025 - In November, the magnesia alumina spinel brick market Regarding demand, manufacturers reported that affected by the
maintained a stable trend. Currently, the mainstream price of 85% MgO- downturn in the real estate market, the cement industry has been
Al spinel bricks for cement kilns for cement kilns ranges from 808 to 840 under significant pressure this year, with long-term capacity utilization
USD/T, with some low-end offers at 770 USD/T. rate below 50%. As a result, magnesia alumina spinel brick producers
On the raw material front, the price of DBM 96.5%-97% used in are facing insufficient orders and fierce market competition. To sustain
production remained steady, while the price of fused magnesia alumina operations, some enterprises have even taken orders at a loss.
spinel decreased by 100 RMB/ton month-on-month. Despite the Given the current industry situation, demand for magnesia-alumina
weakening cost support from raw materials, most manufacturers kept spinel bricks is not expected to improve in the short term.
their product prices stable.

Market review of fused AZS brick in November

Nov. 28, 2025 - In November, the ex-works prices of fused cast AZS bricks In October, China's flat glass production reached 82.5 million weight
remain steady compared to last month. cases, a decrease of 3.3% compared to the same period last year. From
As of now, the zircon sand market shows no significant price fluctuations. January to October, cumulative flat glass production was 805.43 million
The ex-works price including VAT for 65-grade zircon sand (80-120 mesh) weight cases, down 4.4% year-on-year. The decline in glass industry
is reported at 9,000-13,000 CNY/t, and the price range for 66-grade production has led to relatively weak market demand for fused cast AZS
zircon sand is 11,800-14,000 CNY/t, with actual transaction prices often bricks.
negotiable. The price of industrial alumina continued its downward Based on the current supply and demand situation, it is expected that the
trend, currently at 2,775 CNY/t ex-works including VAT, down by 20 CNY/t price of fused cast AZS bricks will likely remain stable in the short term.
compared to the end of last month.

Vol. 215 Nov. 2025 [Link] 31

32 [Link] Vol. 215 Nov. 2025
Vol. 215 Nov. 2025 [Link] 33
 Market Trend
Export Prices of China Refractory Materials in 2024-25

34 [Link] Vol. 215 Nov. 2025

Export Prices of China Refractory Materials in 2024-25

Vol. 215 Nov. 2025 [Link] 35

 Market Trend
Export Prices of China Refractory Products in 2024-25

36 [Link] Vol. 215 Nov. 2025

Ex-works Prices of China Refractory Materials in 2024-25

Vol. 215 Nov. 2025 [Link] 37

 Market Trend
China Imports & Exports and Composite Prices of Refractories in 2024-25

*Fireclay includes bauxite, flint clay, other fireclays and alumina monolithic refractories.

*WFA includes all synthetic or artificial corundum except BFA.

38 [Link] Vol. 215 Nov. 2025

China Imports & Exports and Composite Prices of Refractories in 2024-25

*Basic bricks include refractory products with MgO, CaO and Cr2O3 content over 50%.

Vol. 215 Nov. 2025 [Link] 39

40 [Link] Vol. 215 Nov. 2025
Vol. 215 Nov. 2025 [Link] 41
Statistics
China Exports of Refractory Materials and Products (Sep. 2025)
Export Qty (T) Export Qty (T)
No. Commodity YoY Growth Rate (%)
Sep-25 Sep-24
1 Natural flake graphite 5,927 5,943 -0.28
2 Silica/quartz sand 887 2,329 -61.94
3 Fireclay 50,986 78,521 -35.07
4 Andalusite, kyanite & sillimanite 457 312 46.57
5 Mullite 7,124 9,537 -25.31
6 Fused magnesia (FM) 51,165 41,775 22.48
7 Dead burned magnesia (DBM) 102,119 102,003 0.11
8 Caustic calcined magnesia (CCM) 112,729 85,988 31.10
9 Aluminium ores & its concentrate 10 95 -89.47
10 Chromite & its concentrate 20,951 4,310 386.11
11 Zircon sand and its concentrate 4,514 672 571.69
12 Brown fused alumina (BFA) 25,418 41,787 -39.17
13 Synthetic corundum except BFA 40,812 45,157 -9.62
14 Alumina except synthetic corundum 246,420 135,212 82.25
15 Silicon carbide (SiC) 35,276 25,017 41.01
16 Refractory products (MgO, CaO, Cr2O3>50%) 77,854 74,999 3.81
17 Refractory products (Al2O3, SiO2>50%) 71,275 79,396 -10.23
18 Other refractory products & similar products 13,214 8,778 50.53

China Imports of Refractory Materials and Products (Sep. 2025)

Import Qty (T) Import Qty (T)
No. Commodity YoY Growth Rate (%)
Sep-25 Sep-24
1 Natural flake graphite 2,361 26 8891.97
2 Silica/quartz sand 245,727 636,787 -61.41
3 Fireclay 478 256 86.72
4 Andalusite, kyanite & sillimanite 1,216 2,893 -57.97
5 Mullite 184 363 -49.36
6 Fused magnesia (FM) 0 0 N/A
7 Dead burned magnesia (DBM) 512 233 119.62
8 Caustic calcined magnesia (CCM) 90 38 135.36
9 Aluminium ores & its concentrate 15,877,692 11,551,914 37.45
10 Chromite & its concentrate 2,267,759 1,966,324 15.33
11 Zircon sand and its concentrate 135,531 152,140 -10.92
12 Brown fused alumina (BFA) 36 77 -52.63
13 Synthetic corundum except BFA 312 150 107.73
14 Alumina except synthetic corundum 59,981 37,099 61.68
15 Silicon carbide (SiC) 3,790 2,484 52.55
16 Refractory products (MgO, CaO, Cr2O3>50%) 97 33 195.93
17 Refractory products (Al2O3, SiO2>50%) 1,082 557 94.45
18 Other refractory products & similar products 87 1,077 -91.93

China Exports of Caustic Calcined Magnesia to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Netherlands 18,801,460 2,983,064
United States 15,807,180 2,394,108

42 [Link] Vol. 215 Nov. 2025

 India 15,656,301 1,857,393
Indonesia 13,247,660 4,481,982
Egypt 7,331,001 864,891
Japan 6,923,055 1,315,834
Taiwan, China 4,802,000 527,808
Malaysia 3,586,000 429,108
South Africa 3,568,000 992,566
Republic of Korea 2,854,077 575,719
Viet Nam 2,399,500 376,478
Colombia 2,309,000 294,469
Democratic Republic of Congo 2,219,400 1,151,464
New Zealand 1,680,000 272,056
Mexico 1,248,500 242,540
Ecuador 1,170,000 194,241
Australia 956,000 179,334
Zambia 925,000 610,935
Tanzania 844,000 118,044
Chile 767,400 131,931
United Arab Emirates 622,000 63,465
Denmark 480,000 70,835
Poland 471,000 73,864
United Kingdom 426,000 142,695
Sweden 384,000 77,952
France 336,008 35,127
Finland 288,000 50,683
Portugal 240,000 42,236
Oman 228,500 64,209
Guatemala 150,000 31,650
Germany 147,000 42,292
Belgium 144,005 20,645
Ireland 144,001 16,597
Latvia 144,000 15,875
Argentina 136,200 25,322
Thailand 132,500 60,869
Uzbekistan 128,000 29,589
Italy 120,000 24,575
Uruguay 108,000 20,148
Saudi Arabia 101,000 39,697
Bangladesh 85,000 21,588
Ghana 84,000 13,860
Costa Rica 72,000 15,312
Cambodia 54,000 8,494
Canada 45,600 21,496
Peru 45,000 9,034
Cote d'lvoire 28,000 4,620
Cameroon 28,000 4,620
Sri Lanka 27,000 5,166
Paraguay 27,000 4,590
Panama 27,000 8,015

Vol. 215 Nov. 2025 [Link] 43

Statistics
Kenya 27,000 4,455
Jordan 27,000 6,330
Croatia 27,000 5,400
Singapore 25,000 58,835
Romania 24,000 4,800
Türkiye 21,500 44,942
Lebanon 16,000 30,960
Brazil 4,060 9,029
Russia 3,000 8,401
Ukraine 2,000 7,600
Nigeria 2,000 4,100
Myanmar 1,070 178
Pakistan 500 1,234
Morocco 50 19
Total 112,728,528 21,245,368

China Exports of Dead Burned Magnesia to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
United States 17,739,000 2,850,400
Japan 14,527,478 2,883,813
India 14,203,553 3,335,315
Republic of Korea 12,202,050 2,301,432
Indonesia 11,079,800 5,546,388
Taiwan, China 5,220,450 862,964
Netherlands 4,198,000 590,180
United Arab Emirates 3,734,000 761,505
Russia 3,622,000 1,235,444
Thailand 2,667,450 726,190
Spain 2,025,375 291,226
Malaysia 1,542,570 611,350
Poland 1,440,000 406,440
Viet Nam 1,418,300 506,295
Mexico 1,338,600 438,455
South Africa 734,400 156,530
Brazil 511,020 127,998
Uzbekistan 425,000 126,342
Türkiye 375,000 137,915
Oman 326,000 135,001
Mongolia 309,330 77,258
Bangladesh 307,000 129,848
Kazakhstan 286,000 169,467
Colombia 268,000 52,332
Slovakia 251,800 53,603
Australia 244,000 58,752
Venezuela 185,360 83,122
New Zealand 160,000 44,814
Saudi Arabia 150,000 43,522
Guatemala 125,000 75,200
Egypt 125,000 71,524

44 [Link] Vol. 215 Nov. 2025

 Chile 92,000 24,966
Ukraine 54,000 22,970
Ecuador 54,000 17,717
Czechia(Czech Republic) 51,500 8,148
Canada 50,050 32,178
Ireland 25,000 6,525
Algeria 18,000 10,379
Qatar 16,000 9,072
Argentina 6,000 1,716
Moldova 4,400 3,085
New Caledonia 3,275 1,106
Greece 1,700 1,063
Germany 1,600 979
Pakistan 200 85
Total 102,119,261 25,030,614

China Exports of Fused Magnesia to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
United States 13,687,800 7,711,414
India 10,548,250 4,687,276
Japan 6,027,214 4,248,768
Türkiye 4,706,166 2,529,267
Republic of Korea 3,385,030 1,708,323
Netherlands 2,333,040 1,332,584
Poland 1,952,000 1,002,895
Spain 1,690,000 712,588
Russia 1,494,000 636,810
United Arab Emirates 1,064,000 337,950
Viet Nam 1,035,000 413,982
Argentina 775,000 426,250
Iran 702,000 181,284
Austria 495,000 292,050
Taiwan, China 345,000 142,425
Italy 275,000 97,625
Slovakia 150,000 70,200
Thailand 75,500 30,115
Brazil 75,016 33,886
Uzbekistan 60,000 48,681
Malaysia 60,000 5,008
Singapore 60,000 42,635
Bolivia 46,000 22,080
Myanmar 45,600 24,973
Indonesia 44,042 20,336
Ecuador 22,500 11,750
South Africa 9,000 3,465
Chile 3,000 3,570
Total 51,165,158 26,778,190

Vol. 215 Nov. 2025 [Link] 45

Statistics
China Exports of *Fireclay to Different Destinations (Sep. 2025)
ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Netherlands 14,408,800 3,442,624
Japan 11,694,687 2,062,898
Spain 2,979,750 650,459
India 2,573,500 650,290
United States 2,337,210 1,082,195
Taiwan, China 2,306,400 418,540
Thailand 2,075,005 375,637
Republic of Korea 1,954,005 544,704
Türkiye 1,459,900 361,593
Belgium 1,075,000 203,471
Viet Nam 922,050 203,618
Malaysia 898,080 239,118
Australia 810,320 170,310
Indonesia 740,600 160,567
United Kingdom 737,500 251,990
Iran 670,000 162,200
Brazil 626,000 85,945
Mexico 526,000 163,899
South Africa 352,000 116,658
Argentina 350,000 70,500
Russia 330,000 157,975
Italy 264,000 44,840
Chile 183,125 42,350
Poland 123,250 32,060
Ukraine 108,000 10,800
United Arab Emirates 108,000 27,000
Peru 108,000 27,756
Romania 96,000 17,798
Germany 78,022 31,464
New Zealand 48,000 8,400
Greece 23,000 7,908
Myanmar 19,250 7,085
Georgia 1,000 395
France 4 2
Total 50,986,458 11,833,049
*Fireclay includes bauxite, flint clay, other fireclays and alumina monolithic refractories.

China Export of Brown Fused Alumina to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Japan 5,327,677 3,606,086
India 4,538,150 2,912,556
Republic of Korea 3,867,525 2,392,415

46 [Link] Vol. 215 Nov. 2025

 United States 1,814,623 725,880
Thailand 1,172,064 771,448
Taiwan, China 1,125,000 747,569
Türkiye 948,350 665,714
Indonesia 848,525 609,649
United Arab Emirates 577,000 337,255
Viet Nam 559,125 303,981
United Kingdom 546,800 277,186
South Africa 528,500 388,419
Mexico 384,100 272,278
Brazil 353,000 304,578
Philippines 275,450 140,685
Argentina 257,000 167,732
Russia 190,000 177,417
Netherlands 190,000 149,040
Slovenia 156,000 108,160
Poland 148,750 139,821
Malaysia 135,575 94,670
Saudi Arabia 120,000 82,820
Austria 119,000 145,997
Pakistan 112,000 51,659
Australia 100,240 54,494
Ethiopia 100,000 16,500
Singapore 95,750 67,653
Morocco 75,000 64,421
Israel 70,000 56,646
Canada 65,925 37,451
Kazakhstan 60,000 41,400
France 58,021 55,352
Iran 52,000 34,688
Ukraine 50,000 41,320
Switzerland 44,000 43,728
Angola 33,970 1,168
Myanmar 33,000 29,134
Lebanon 27,000 22,410
Colombia 26,625 18,848
Egypt 26,000 29,225
Tunisia 26,000 24,700
Czechia(Czech Republic) 24,000 25,200
Italy 24,000 26,902
Algeria 21,500 17,765
Romania 18,000 12,240
Dominican Republic 16,000 16,896
Spain 12,000 12,240
Mongolia 11,000 1,858
Cambodia 10,500 4,644
Peru 10,000 5,000
Yemen 9,870 1,974
Serbia 8,000 10,136
Qatar 3,119 1,875
Nepal 3,000 750
Honduras 2,499 1,500
Macao,China 2,000 590

Vol. 215 Nov. 2025 [Link] 47

Statistics
Kuwait 2,000 1,700
Chile 1,000 950
Bulgaria 1,000 1,066
Panama 400 720
Uzbekistan 200 153
Bangladesh 150 410
Marshall Islands 60 118
Sri Lanka 25 14
Total 25,418,068 16,356,854

China Export of *White Fused Alumina to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Japan 7,289,070 5,623,619
United States 5,054,128 3,685,377
Brazil 4,627,175 2,245,229
India 4,483,655 2,965,607
Republic of Korea 3,593,845 2,726,522
Netherlands 2,666,450 1,653,307
United Arab Emirates 1,995,200 1,137,424
Türkiye 1,767,868 1,189,855
Taiwan, China 1,457,730 1,061,567
Canada 1,125,920 1,046,575
Belgium 1,007,500 684,238
Germany 800,953 771,898
Poland 709,450 529,142
Viet Nam 702,992 483,934
South Africa 350,000 239,117
Spain 336,000 227,801
United Kingdom 329,950 230,604
Iran 306,200 229,007
Thailand 304,460 366,903
Mexico 248,800 518,885
Italy 248,401 284,780
Indonesia 218,125 284,646
Australia 199,020 131,847
Russia 197,850 296,003
Saudi Arabia 126,000 48,777
Kazakhstan 120,000 93,071
Malaysia 74,018 65,821
Belarus 48,000 73,950
Philippines 47,450 47,439
New Zealand 44,160 32,207
Switzerland 44,000 74,850
Singapore 42,100 39,843
Israel 31,000 29,106
Colombia 30,794 20,501
Czechia(Czech Republic) 27,000 18,900
Peru 27,000 20,958
Algeria 25,170 28,468
Austria 25,000 85,043

48 [Link] Vol. 215 Nov. 2025

 Croatia 25,000 15,000
Guatemala 10,000 16,000
Cambodia 9,000 15,283
Democratic People's Republic of Korea 6,100 6,473
Panama 5,000 3,710
Romania 5,000 3,400
Hong Kong, China 3,000 422
Uzbekistan 3,000 3,375
France 3,000 14,646
Ghana 2,500 1,375
Chile 2,000 1,760
Argentina 2,000 6,450
Greece 2,000 1,668
Togo 1,000 460
Kenya 500 900
Bangladesh 250 479
Egypt 150 300
Brunei 137 742
Sweden 10 14
Tanzania 1 8
Total 40,812,082 29,385,286
*White fused alumina includes all synthetic and artificial corundum except BFA.

China Export of Natural Flake Graphite to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Japan 1,260,852 1,234,362
Iran 950,000 345,934
Republic of Korea 929,060 925,311
Germany 770,696 581,127
United States 566,799 361,853
United Arab Emirates 264,000 178,276
Türkiye 232,000 70,500
Russia 156,000 87,015
Pakistan 88,000 29,420
Thailand 72,205 67,764
Taiwan, China 70,050 41,812
Canada 64,664 47,032
Spain 63,350 66,404
Argentina 55,000 32,853
Belarus 48,000 52,320
Ukraine 48,000 40,040
Bangladesh 40,000 25,150
United Kingdom 39,000 37,657
Viet Nam 31,800 60,098
Indonesia 31,000 36,597
Malaysia 24,101 36,114
Belgium 20,000 34,400
Mexico 20,000 9,965
South Africa 20,000 7,600
Afghanistan 20,000 6,400
Algeria 16,000 46,150
Morocco 9,000 9,459

Vol. 215 Nov. 2025 [Link] 49

Statistics
Australia 8,000 6,196
Gabon 6,000 2,940
Myanmar 2,000 3,044
Egypt 1,000 956
Netherlands 2 4
Total 5,926,579 4,484,753

China Export of Silicon Carbide to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
United States 9,473,107 2,076,232
Japan 4,325,185 7,505,431
Netherlands 2,747,000 1,587,588
India 2,681,996 1,768,864
Republic of Korea 2,167,553 2,444,857
Sweden 1,800,000 390,000
Belgium 1,790,000 765,712
Mexico 1,633,100 750,599
Viet Nam 1,133,431 470,383
Taiwan, China 1,039,611 1,683,139
Germany 994,556 640,918
Türkiye 761,011 429,071
Spain 449,000 313,530
Italy 438,350 263,597
Thailand 437,700 358,669
Slovenia 339,003 237,916
United Arab Emirates 312,000 95,800
Bangladesh 300,725 246,657
Indonesia 291,850 220,811
Australia 271,544 171,720
Brazil 235,000 135,185
Iran 200,000 139,000
United Kingdom 199,760 48,911
Malaysia 180,100 165,046
Kazakhstan 180,000 14,400
Norway 160,000 111,000
France 132,050 132,699
Poland 107,002 158,143
South Africa 101,000 80,623
Chile 88,000 61,381
Peru 54,000 29,700
Finland 50,000 12,000
Argentina 48,000 24,000
Singapore 40,000 185,936
Colombia 27,000 38,610
Saudi Arabia 24,000 27,371
Morocco 22,000 26,020
Hungary 20,000 50,187
Philippines 12,000 22,866
Dominican Republic 10,000 19,054

50 [Link] Vol. 215 Nov. 2025

 Russia 8,085 50,026
Pakistan 8,000 10,360
Israel 3,850 12,185
Czechia (Czech Republic) 3,200 4,320
Myanmar 2,000 6,580
Romania 2,000 2,232
New Zealand 2,000 2,758
Canada 942 1,578
Ecuador 725 2,651
Austria 300 9,000
Egypt 6 3
Total 35,307,742 24,005,319

China Exports of Mullite to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Republic of Korea 2,230,410 461,161
Japan 857,000 293,014
India 752,500 190,158
Netherlands 728,000 82,154
Australia 578,500 158,363
Viet Nam 421,500 91,258
Indonesia 380,000 87,109
Taiwan, China 282,992 68,090
Slovenia 236,800 34,779
Belgium 165,000 47,621
Thailand 90,000 23,458
Russia 79,075 30,282
Malaysia 75,000 12,922
Kazakhstan 60,000 4,680
United Kingdom 57,000 25,516
Mexico 36,100 62,788
Türkiye 27,025 2,865
Spain 26,250 7,160
Switzerland 24,000 22,713
New Zealand 8,400 3,276
Myanmar 6,030 2,695
Israel 2,000 1,070
Singapore 100 975
United States 6 2
Total 7,123,688 1,714,109

China Exports of *Basic Refractory Products to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Indonesia 10,847,705 5,458,552
India 9,951,612 7,533,626
Japan 6,491,499 6,923,649
Republic of Korea 6,041,442 5,123,490
Russia 4,301,089 4,197,197

Vol. 215 Nov. 2025 [Link] 51

Statistics
Viet Nam 3,335,490 2,876,154
Malaysia 3,055,592 1,936,065
South Africa 2,964,571 2,987,595
Taiwan, China 2,008,667 1,757,727
Algeria 1,885,230 1,428,885
Uzbekistan 1,867,181 961,056
Türkiye 1,787,300 2,024,788
Peru 1,491,104 775,882
Belgium 1,275,319 767,616
Kazakhstan 1,255,444 1,260,761
Bangladesh 1,232,056 857,836
Oman 1,018,650 1,081,184
United Kingdom 955,034 560,467
Saudi Arabia 891,900 686,457
Thailand 829,673 409,458
Brazil 819,346 693,180
Pakistan 767,672 608,789
Germany 754,903 589,474
Mexico 710,903 548,504
Myanmar 684,241 292,993
Italy 661,052 652,020
Nigeria 647,294 490,440
Ethiopia 626,687 578,491
Turkmenistan 615,287 469,304
Qatar 591,125 493,315
Kyrgyzstan 580,966 605,881
Canada 513,161 543,686
Democratic People's Republic of Korea 499,790 173,150
Venezuela 498,077 391,443
Czechia(Czech Republic) 461,259 383,925
Moldova 440,069 438,042
Australia 414,383 637,036
Poland 398,460 365,154
United States 333,357 361,355
Philippines 330,863 41,853
Zambia 318,813 343,836
Greece 292,272 271,523
Tajikistan 285,258 257,815
Zimbabwe 213,740 159,552
Netherlands 193,995 207,171
Egypt 190,753 148,054
Slovenia 189,703 166,786
Ecuador 153,057 91,524
Mozambique 146,289 146,424
Spain 124,433 123,809
Angola 123,827 94,856
Slovakia 117,392 126,047

52 [Link] Vol. 215 Nov. 2025

 New Zealand 104,674 83,127
Sweden 92,420 105,373
Latvia 76,573 1,090,541
France 62,654 38,022
Chile 58,060 51,943
Colombia 43,282 36,651
Argentina 41,550 68,016
United Arab Emirates 38,575 26,284
Democratic Republic of Congo 32,147 33,905
Mongolia 30,000 10,137
Singapore 20,531 4,788
Morocco 14,216 5,269
Libya 10,798 3,743
Lao 9,807 9,831
Bahrain 9,572 73,415
New Caledonia 8,680 6,743
Tanzania 4,300 314
Guatemala 4,227 3,794
Ghana 3,990 290
Israel 2,068 1,151
Guinea 285 2,384
Hungary 137 23,295
Austria 65 7,134
Total 77,853,596 62,790,027
*Basic Refractory Products refer to refractory bricks and shapes with Mgo, Cao and Cr2O3 content content over 50%.

China Exports of *Al2O3-SiO2 Refractory Products to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
India 12,952,645 5,997,899
Indonesia 9,287,961 3,804,618
Republic of Korea 4,563,643 3,257,954
Türkiye 3,526,104 2,146,069
Japan 3,137,543 3,089,411
Malaysia 2,797,947 2,015,849
Viet Nam 2,641,383 995,896
Russia 2,396,106 7,742,904
Germany 1,766,731 2,263,602
Peru 1,760,975 784,480
Taiwan, China 1,497,680 1,003,759
Lao 1,486,960 357,764
Brazil 1,278,726 1,469,562
Egypt 1,262,522 1,261,611
Thailand 1,127,677 1,216,780
Mozambique 1,108,256 481,035
United States 1,086,744 725,135
Zimbabwe 1,033,744 317,628
Kyrgyzstan 1,033,533 433,475

Vol. 215 Nov. 2025 [Link] 53

Statistics
Croatia 1,031,493 646,300
Kazakhstan 957,846 1,168,113
Nigeria 820,423 379,460
Angola 807,884 834,357
Australia 767,923 573,199
Djibouti 708,624 340,864
Democratic People's Republic of Korea 640,005 194,189
Mongolia 620,419 172,882
Italy 611,466 778,801
Democratic Republic of Congo 464,777 269,349
Bangladesh 460,665 458,938
United Kingdom 413,473 147,877
Oman 407,012 362,424
France 407,012 321,972
Netherlands 395,901 322,702
Uzbekistan 395,544 266,760
Tajikistan 387,605 301,177
Belgium 371,244 272,648
Paraguay 356,721 204,431
Canada 327,029 259,792
Mexico 311,196 326,881
Spain 305,094 203,490
South Africa 296,925 215,570
Iran 276,973 34,692
Bulgaria 273,433 260,012
Philippines 254,643 42,039
Poland 226,856 196,513
Greece 226,661 67,186
Zambia 216,798 35,017
Morocco 206,494 142,455
Pakistan 171,209 299,504
New Zealand 151,465 109,906
United Arab Emirates 140,922 103,156
Cambodia 137,960 42,255
Argentina 106,751 242,215
Libya 80,524 22,886
Myanmar 75,113 51,640
Saudi Arabia 64,993 38,464
Colombia 59,158 29,910
Senegal 52,000 19,760
Guatemala 42,775 4,250
Iraq 42,616 26,729
Bahrain 42,610 24,502
Ukraine 40,247 27,123
Algeria 40,123 24,036
Cameroon 33,735 8,301
Costa Rica 31,203 3,386

54 [Link] Vol. 215 Nov. 2025

 Israel 27,180 2,950
Finland 26,640 6,717
North Macedonia 23,200 22,589
Ethiopia 21,460 19,212
Kenya 17,836 30,762
Slovenia 17,752 16,661
Nicaragua 17,510 4,516
Tunisia 17,440 70,400
Cote d'lvoire 13,037 7,194
Venezuela 12,812 9,809
Czechia(Czech Republic) 9,467 8,152
Chile 8,217 14,332
Singapore 7,571 18,584
Latvia 7,338 31,638
Ecuador 5,068 5,115
Belarus 4,980 3,881
Tanzania 4,700 2,479
Brunei 4,000 1,600
Sweden 3,616 4,178
Jordan 3,488 654
Uganda 2,856 1,200
Turkmenistan 2,704 9,064
Lebanon 2,000 1,940
Gabon 1,800 540
Liberia 1,290 9,500
Hong Kong, China 1,058 8,136
Sint Maarten (Dutch part) 560 800
Marshall Islands 439 400
Kuwait 402 653
Burkina Faso 180 485
Sri Lanka 91 1,200
Bahamas 8 499
Total 71,275,123 50,559,384
* Al2O3-SiO2 refractory products refer to refractory shapes with Al2O3& SiO2 content over 50%.

China Exports of Other Refractory Products to Different Destinations (Sep. 2025)

ĞƐƟŶĂƟŽŶ YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Indonesia 2,965,822 2,697,928
India 2,381,513 2,616,420
Viet Nam 792,952 1,893,713
Italy 743,704 1,749,195
Malaysia 661,613 573,692
Cambodia 566,175 83,970
United States 389,655 232,761
Russia 386,975 438,801
Tajikistan 373,700 438,688
Zimbabwe 366,112 114,781

Vol. 215 Nov. 2025 [Link] 55

Statistics
Kazakhstan 343,561 165,279
United Arab Emirates 332,566 265,432
ĞŵŽĐƌĂƟĐWĞŽƉůĞΖƐZĞƉƵďůŝĐŽĨ<ŽƌĞĂ 233,390 28,973
Mongolia 231,590 50,616
Paraguay 230,036 255,538
Taiwan, China 205,297 1,024,080
Tanzania 201,045 444,529
Saudi Arabia 158,707 485,821
Japan 153,988 38,963
Myanmar 140,859 51,133
Bahrain 132,027 186,986
Lao 120,315 33,932
Spain 108,818 110,164
Brazil 107,197 212,141
Kyrgyzstan 99,675 113,111
Philippines 94,026 45,717
Thailand 61,337 46,509
Oman 59,839 98,058
Bangladesh 52,054 23,601
Peru 51,231 84,675
Australia 45,519 72,936
Norway 40,063 71,119
Canada 39,722 71,503
Latvia 35,651 284,963
Iran 34,734 73,067
Uzbekistan 31,092 54,847
Syria 26,525 7,958
ƌŐĞŶƟŶĂ 20,194 36,355
Greece 19,232 39,115
Türkiye 18,072 39,825
Romania 16,668 21,857
Chile 15,200 4,535
Angola 14,810 13,849
ũŝďŽƵƟ 14,198 6,471
South Africa 9,669 7,495
Kenya 8,434 8,141
Nigeria 8,340 4,248
Algeria 8,000 4,981
Republic of Korea 7,872 35,812
Cote d'lvoire 6,739 2,388
Iraq 6,670 12,545
United Kingdom 6,010 67,939
Jamaica 4,870 2,227
Netherlands 4,434 9,227
Portugal 4,190 9,171
Hungary 4,046 7,408
Pakistan 4,000 1,464

56 [Link] Vol. 215 Nov. 2025

 Ghana 3,229 6,266
Slovakia 2,486 19,918
Poland 2,130 7,560
Mexico 1,201 1,200
Colombia 1,200 3,242
Belarus 762 8,656
Ethiopia 730 40
Qatar 520 1,680
Egypt 438 1,434
Hong Kong, China 411 164
Germany 363 614
France 112 1,332
Brunei 100 28
Marshall Islands 27 769
Total 13,214,442 15,629,556

China Imports of Silica/Quartz Sand from Different Origins (Sep. 2025)

Origin YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Indonesia 143,350,052 3,910,436
Malaysia 95,505,225 2,495,132
Taiwan, China 5,250,000 1,110,082
Australia 786,023 243,307
Germany 391,078 97,503
Türkiye 181,375 249,711
Brazil 90,000 20,900
United States 79,494 132,527
Japan 42,156 11,891
United Kingdom 34,283 101,553
Denmark 7,450 4,593
Norway 3,500 2,280
Belgium 3,225 3,516
France 1,500 691
Saudi Arabia 1,000 1,460
Spain 500 3,070
Guyana 34 1,150
Republic of Korea 11 63
Mexico 2 1
Sri Lanka 1 35
Viet Nam 0 1
Total 245,726,909 8,389,902

China Imports of Aluminum Ore & its Concentrate from Different Origins (Sep. 2025)
Origin YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Guinea 10,492,212,156 758,558,051
Australia 3,737,006,822 229,764,207
Türkiye 394,473,959 27,512,203
Sierra Leone 337,140,265 23,882,613

Vol. 215 Nov. 2025 [Link] 57

Statistics
Malaysia 225,232,811 12,718,596
Lao 184,821,075 13,381,643
Cote d'lvoire 142,192,530 9,820,433
Guyana 142,159,940 11,514,817
Brazil 90,401,067 10,668,739
Jamaica 60,886,497 5,925,474
Ghana 45,783,075 3,799,995
Pakistan 25,379,072 1,703,057
Madagascar 1,300 65
Tanzania 563 1,927
India 329 2,217
Guinea-Bissau 238 1,680
Total 15,877,691,699 1,109,255,717

China Imports of Chromite & its Concentrate from Different Origins (Sep. 2025)
Origin YƵĂŶƟƚLJ;<ŐͿ Value (US$)
South Africa 1,908,237,376 489,388,353
Zimbabwe 171,426,002 51,773,830
Türkiye 52,383,072 15,785,970
Pakistan 24,860,129 6,063,179
Oman 23,851,294 2,910,300
Philippines 19,901,900 5,389,662
Papua New Guinea 18,958,181 5,434,483
United Arab Emirates 12,051,514 2,839,121
Albania 12,051,285 3,304,261
Iran 11,088,811 2,699,708
Madagascar 10,724,016 2,748,930
Mozambique 2,177,825 628,512
India 42,903 25,742
France 3,600 6,887
Netherlands 1,200 1,086
Total 2,267,759,108 589,000,024

China Imports of Zircon Sand & its Concentrate from Different Origins (Sep. 2025)
Origin YƵĂŶƟƚLJ;<ŐͿ Value (US$)
Australia 55,718,933 25,355,248
South Africa 31,256,236 31,634,732
Nigeria 17,106,004 6,574,931
Mauritania 15,456,000 4,115,477
Senegal 5,163,501 5,410,648
Sierra Leone 4,729,467 2,068,800
Mozambique 1,348,876 734,657
Madagascar 1,042,000 954,533
Pakistan 950,750 736,078
Gambia 805,870 373,138
Malaysia 679,970 623,619

58 [Link] Vol. 215 Nov. 2025

 Myanmar 556,962 340,365
Brazil 475,000 178,746
United States 113,016 289,462
Indonesia 52,000 80,412
Japan 25,600 239,443
Viet Nam 25,000 36,750
United Kingdom 19,000 70,021
Germany 6,000 23,853
Taiwan, China 340 2,514
Total 135,530,525 79,843,427

China Imports of Andalusite, Kyanite and Sillimanite from Different Origins (Sep. 2025)
Origin YƵĂŶƟƚLJ;<ŐͿ Value (US$)
South Africa 891,000 334,314
United Arab Emirates 300,916 49,157
France 24,000 16,505
United States 25 145
Total 1,215,941 400,121

China Imports of Alumina Except Synthetic Corundum from Different Origins (Sep. 2025)
Origin YƵĂŶƟƚLJ;<ŐͿ Value (US$)
India 31,648,800 11,894,012
Viet Nam 22,943,765 9,411,991
Germany 1,710,725 7,525,646
Japan 1,354,441 6,532,610
France 1,112,387 1,627,946
Republic of Korea 594,776 903,087
United States 323,292 1,308,892
Indonesia 180,050 171,065
Singapore 60,500 283,500
Taiwan, China 21,729 75,937
Italy 8,000 18,060
Canada 6,434 30,804
Netherlands 6,002 319,605
United Kingdom 4,815 64,803
Austria 4,354 22,368
China 505 23,829
Portugal 500 12,719
Slovakia 81 16,000
Russia 50 984
Brazil 9 90
Denmark 9 4,446
Australia 0 417
Switzerland 0 665
Total 59,981,224 40,249,476

Vol. 215 Nov. 2025 [Link] 59

 Meetings

FEBRUARY 2026 SEPTEMBER 2026

Feb. 2-4, 2026 - 1st Middle East Advanced Refractory Materials Technical Sep. 9-12, 2026 - GIFA Indonesia 2026 - 3rd International Foundry Trade Fair and
Exchange and Exhibition is to be held in AL-KHOBAR, SAUDI ARABIA. For details, Forum for Indonesia will be held in Jakarta, Indonesia. For more information,
please visit [Link]. please refer to [Link].

FEBRUARY 2026 SEPTEMBER 2026

Feb. 18-20, 2026 - Highly-functional Material Week Nagoya 2026 is scheduled to Sep. 16-17, 2026 - ICR 2026 - International Colloquium on Refractories is planned
be held at Port Messe Nagoya, Japan. For further details, please refer to www. to he held in Aachen, Germany. For details, please visit [Link].
[Link].

MARCH 2026 SEPTEMBER 2026

Mar. 24-26, 2026 - ceramitec 2026 is planned to be held in Munich, Germany. For Sep. 17-19, 2026 - ANKIROS | TURKCAST | ANNOFER 2026 is scheduled to be
further detail, please visit [Link]. held at Istanbul Expo Center, Turkey. For more information, please refer to www.
[Link].

APRIL 2026 OCTOBER 2026

Apr. 15-17, 2025 - Mineral Recycling Forum 2026 is scheduled to be held at Oct. 6-8, 2026 - Aluminium 2026 is scheduled to be held at Exhib. Centre
Pullman Cannes Mandelieu, France. For detailed information, please refer to Düsseldorf, Germany. For further detail, please refer to [Link]-
[Link]. [Link].

MAY 2026 OCTOBER 2026

May 4-6, 2026 - AISTech 2026 - The Iron & Steel Technology Conference and Oct. 20-23, 2026 - Glasstec 2026 will be held in Duesseldorf, Germany. For further
Exposition will be held in Pittsburgh, PA, USA. For details, please visit [Link]. details, please refer to [Link].
org/Conferences-Expositions/AISTech.

MAY 2026 OCTOBER 2026

May 18-20, 2026 - MagForum 2026 will be held at Grand Hotel Dido, Baveno, Oct. 28-30, 2026 - IREFCON 2026 - 16th India International Refractories Congress
Lake Maggiore, Milan, Italy. For more information, please visit [Link]. is scheduled to be held at Fort Kochi, Kerala, India. For detailed information,
com. please visit [Link].

MAY 2026 NOVEMBER 2026

May 20-22, 2026 - REFRA PRAGUE 2026 will be held in Prague, Czech Republic. Nov. 10-13, 2026 - Metal-Expo 2026 - 32nd International Industrial Exhibition
For more details, please refer to [Link]/nadchazejici-akce/refra- is planned to be held in Saint Petersburg, Russia. For further detail, please visit
prague-2026. [Link].

JUNE 2026 JUNE 2027

Jun. 8-11, 2026 - International Conference on Calcium Aluminates 2026 is Jun. 21-25, 2027 - GIFA - METEC - THERMPROCESS - NEWCAST 2027 is set to be
scheduled to be held at Lausanne, Switzerland. Please visit [Link]- held in Dusseldorf Exhibition Centre, Germany. For details, please visit [Link].
[Link]. com.

60 [Link] Vol. 215 Nov. 2025

Vol. 215 Nov. 2025 [Link] 61
 Brand Show
Fused Magnesia

White Fused Alumina

Silica Fume

62 [Link] Vol. 215 Nov. 2025

 Calcined Bauxite

Spinel

Vol. 215 Nov. 2025 [Link] 63

 Buyer's Guide

F
or listing under the present categories or adding your own
headings, please submit your company names, main products,
and contact details to: cathy@[Link].

A
Alumina - Brown Fused

Yiyuande Mineral Co., Ltd Minchem Impex Singapore Pte Ltd.

Tel: +86-186-22053631 Tel: +91 33 40066010, +91 33 40078992
Email: sales@[Link] Email: export@[Link]
Website: [Link] Website: [Link]

Carborundum Universal Limited - Electro Minerals Division Shandong Ruishi Abrasive Co., Ltd.
Tel: +91 484 3023600 +91 484 3023627 Mob: +86-13805332313
Email: salesemd@[Link] Email: zhengchangjun@[Link]
Website: [Link]

Alumina - Tabular

Shandong Ruishi Abrasive Co., Ltd. Midegasa

Mob: +86-13805332313 Tel: +34 943 692 762
Email: zhengchangjun@[Link] Fax: +34 943 693 203
Website: [Link] Email: alex@[Link]
Website: [Link]

Alumina - White Fused

Zhong Tang (Dalian) Materials CO., LTD.

Carborundum Universal Limited - Electro Minerals Division Mob: +86 13009468109
Tel: +91 484 3023600 +91 484 3023627 Email: morgan@[Link]
Email: salesemd@[Link] Website:[Link]

64 [Link] Vol. 215 Nov. 2025

Alumina Brick

KePA Minerals (Premium Andalusite)

Lianhui International Trade Company Mobile: +98 912 279 8143 ( WhatsApp + Wechat )
Mobile: +86 19931562120 Email: info@[Link]
Email: info@[Link] Website: [Link]
Website: [Link]

B
Bauxite - Calcined

Zhengzhou Kaiyuan Refractories Co., Ltd

Contact: Ms Yolanda Hu Minchem Impex Singapore Pte Ltd.
Tel: +86-371-53688552 Tel: +91 33 40066010, +91 33 40078992
Mobile: +8613592427095 Email: export@[Link]
Email: kaiyuanref@[Link] Website: [Link]
Website: [Link]

Boron Carbide
Alumina Cement

Minchem Impex Singapore Pte Ltd.

Midegasa Tel: +91 33 40066010, +91 33 40078992
Tel: +34 943 692 762 Email: export@[Link]
Fax: +34 943 693 203 Website: [Link]
Email: alex@[Link]
Website: [Link]

Elkem ASA, Silicon Products

Tel: +47 38017500
Imerys Email: [Link]@[Link]
Tel: +33 (0)1 49 55 65 60 Website: [Link]/silicon-products/refractories/
Email: [Link]@[Link]
Website: [Link]
C
Calcium Aluminate Cement

ɲͲĂůƵŵŝŶĂ

JSM Refractory Company Limited

Hindalco Industries Limited Tel: +86 18702296455 (whatsapp/wechat)
Tel: +91 8335070725 Email: monica@[Link]
Email: [Link]@[Link] Website: [Link]
Website: [Link]

Andalusite Chamotte

I
Andalucita S.A. Imerys
Mobile: +51-99689-2516 Tel: +33 (0)1 49 55 65 60
Email: cdf@[Link] Email: [Link]@[Link]
Website: [Link] Website: [Link]

Vol. 215 Nov. 2025 [Link] 65

 Buyer's Guide
Chrome Ore Fused Magnesia

HONGFEI NEW MATERIALS TECHNOLOGY(LIANYUNGANG)CO., LTD. Minchem Impex Singapore Pte Ltd.
Tel:0086-518-82230165 Tel: +91 33 40066010, +91 33 40078992
Email:563764138@[Link] Email: export@[Link]
Website:[Link] Website: [Link]

Checker Brick Fused Silica

Zhengzhou Annec Industrial Co., Ltd.

Elkem ASA, Silicon Products
Tel: +86-371-69999038 +86-15838305038
Tel: +47 38017500
Email: annecsale@[Link]
Email: [Link]@[Link]
Website: [Link]
Website: [Link]/silicon-products/refractories/

E
EPC Technology Service Ferro Silicium
Of Hot Blast Stove Of BF In Iron-Making

Zhengzhou Annec Industrial Co., Ltd. Siborex SRL

Tel: +86-371-69999038 +86-15838305038 Contact: Emmanuelle and Michel JOLY
Email: annecsale@[Link] Tel: +32 495 20 70 55
Website: [Link] Mobile: +32 495 53 12 42
E-mail: [Link]@[Link], [Link]@[Link]
Website: [Link]

F
Flake Graphite
Ferro Silicon Nitride

+32 mesh +50 mesh +80 mesh +100 mesh

Siborex SRL
Black Rock Mining Limited
Contact: Emmanuelle and Michel JOLY
Mob: +61 (0)438 356 590
Tel: +32 495 20 70 55
Email: jdv@[Link]
Mobile: +32 495 53 12 42
Website: [Link]
E-mail: [Link]@[Link], [Link]@[Link]
Website: [Link]

Minchem Impex Singapore Pte Ltd.

Tel: +91 33 40066010, +91 33 40078992 Anyang DX Silicon Industry Co., Ltd.
Email: export@[Link] Contact: Ms Lucy Li
Website: [Link] Mobile/WhatsApp: +86-13526128698
Email: lucy@[Link]
Website: [Link] / [Link]

Burn-out Polymorphic Fibres

Elkem ASA, Silicon Products Elkem ASA, Silicon Products

Tel: +47 38017500 Tel: +47 38017500
Email: [Link]@[Link] Email: [Link]@[Link]
Website: [Link]/silicon-products/refractories/ Website: [Link]/silicon-products/refractories/

66 [Link] Vol. 215 Nov. 2025

 K
Kiln Design & Construction

Shanxi Jindongnan Shenhua New Materials Co., Ltd.

Contact: Mr. Liu
North Kiln &Engineering Co., Ltd
Mob: +86-15286966660
Contact: Mr. Yao Wenbo
Email: 15286966660@[Link]
Tel: +86 13703391230
Website: [Link]
Email: bfyaoye@[Link]
Website: [Link]
G
Gunning Mixes
M

Allied Mineral Products, Tianjin

Tel: +86-22-25210378 ext. 282 QMAG Pty Limited
Email: [Link]@[Link] Tel: +61 7 4920 0200
Website: [Link] Email: QMAG@[Link]
Website: [Link]
[Link]/company/queensland-magnesia
H
Heating Furnace and Computer Monitoring System Magnesia - Dead Burned

Xinxiang Huayi Industrial Furnace Co., Ltd.

Address: Xinxiang City, Henan Province, China Minchem Impex Singapore Pte Ltd.
Tel: +86 15903894655 Tel: +91 33 40066010, +91 33 40078992
Mobile/WeChat/Whatsapp: +86 15903894655 Email: export@[Link]
Email: info@[Link] Website: [Link]
Website: [Link]

Magnesia - Fused
I
Insulation Brick

QMAG Pty Limited

Zhengzhou Annec Industrial Co., Ltd. Tel: +61 7 4920 0200
Tel: +86-371-69999038 +86-15838305038 Email: QMAG@[Link]
Email: annecsale@[Link] Website: [Link]
Website: [Link] [Link]/company/queensland-magnesia

Magnesia Carbon Brick For Converter / Ladle

TANGSHAN KAILUN INSULATING REFRACTORIES Co., Ltd

Contact: Mr Sun POSCO FUTURE M Co., Ltd.
Mobile/Wechat: +86 13803318832, +86 13929973889 Tel: +82-54-290-0445
Email: kailunbaowen@[Link] Fax: +82-54-290-0897
Website: [Link] Email: euripin84@[Link]
Website: [Link]

Zhengzhou Kaiyuan Refractories Co., Ltd

Contact: Ms Yolanda Hu
VGH Viktoria Garten Hüttenindustriebedarf GmbH Germany
Tel: +86-371-53688552
Tel: +49-2324-9770800
Mobile: +8613592427095
Email: info@[Link]
Email: kaiyuanref@[Link]
Website: [Link]
Website: [Link]

Vol. 215 Nov. 2025 [Link] 67

 Buyer's Guide
Magnesia Chrome Brick For Steel Refining Facility / TSL Furnace

POSCO FUTURE M Co., Ltd. EREDI SCABINI S.r.l. – ADVANCED REFRACTORY SOLUTIONS
Tel: +82-54-290-0445 Tel: +39 0382 66711
Fax: +82-54-290-0897 Fax: +39 0382 6671492
Email: euripin84@[Link] Email: info@[Link]
Website: [Link] Website: [Link]

Microsilica

VGH Viktoria Garten Hüttenindustriebedarf GmbH Germany

Elkem ASA, Silicon Products
Tel: +49-2324-9770800
Tel: +47 38017500
Email: info@[Link]
Email: [Link]@[Link]
Website: [Link]
Website: [Link]/silicon-products/refractories/

Mortars

Shanghai SIBEN Environmental Technology Co., Ltd. Allied Mineral Products, Tianjin
Tel: +86-13801939401 Tel: +86-22-25210378 ext. 282
Email: [Link]@[Link] Email: [Link]@[Link]
Website: [Link] Website: [Link]

Monolithic Refractories Mullite - Fused

Allied Mineral Products, Tianjin

Tel: +86-22-25210378 ext. 282 Imerys
Email: [Link]@[Link] Tel: +33 (0)1 49 55 65 60
Website: [Link] Email: [Link]@[Link]
Website: [Link]

Carborundum Universal Limited - Electro Minerals Division

Calderys Tel: +91 484 3023600, +91 484 3023627
Tel: +33 (0)1 41 08 11 00 Email: salesemd@[Link]
Email: info@[Link]
Website: [Link]

Precast Pre - Fired Shapes

Vesuvius China
Tel: +86 512 6741 6947 Allied Mineral Products, Tianjin
Email: [Link]@[Link] Tel: +86-22-25210378 ext. 282
Websit: [Link] Email: [Link]@[Link]
Website: [Link]

68 [Link] Vol. 215 Nov. 2025

 Carborundum Universal Limited - Electro Minerals Division
EREDI SCABINI S.r.l. – ADVANCED REFRACTORY SOLUTIONS Tel: +91 484 3023600, +91 484 3023627
Tel: +39 0382 66711 Email: salesemd@[Link]
Fax: +39 0382 6671492
Email: info@[Link]
Website: [Link]

R
Refractory Engineering Solutions
Kymera International
Mob: +49 163 60 72 388
Email: sika_emea@[Link]
Monocon International Refractories Limited Website: [Link]
Tel: +44 1709 864848 (UK), +86 22 66293245 (China)
Email: sales@[Link]
Website: [Link]

Elkem ASA, Silicon Products

Tel: +47 38017500
Email: [Link]@[Link]
Website: [Link]/silicon-products/refractories/
EREDI SCABINI S.r.l. – ADVANCED REFRACTORY SOLUTIONS
Tel: +39 0382 66711
Fax: +39 0382 6671492
Email: info@[Link]
Website: [Link]

S
Lianhui International Trade Company
Silica Brick Mobile: +86 19931562120
Email: info@[Link]
Website: [Link]
Zhengzhou Annec Industrial Co., Ltd.
Tel: +86-371-69999038 +86-15838305038
Email: annecsale@[Link]
Website: [Link]
Silica Fume

Zunyi Lianfeng Industry and Trade Co., Ltd.

Contact: Steven Chen
Zhengzhou Kaiyuan Refractories Co., Ltd Tel: +86-15519154201
Contact: Ms Yolanda Hu E-mail: stemela@[Link]
Tel: +86-371-53688552
Mobile: +8613592427095
Email: kaiyuanref@[Link]
Website: [Link]
Silicon Metal

Silicon Carbide
Siborex SRL
Contact: Emmanuelle and Michel JOLY
Tel: +32 495 20 70 55
ESK-SIC GmbH
Mobile: +32 495 53 12 42
Tel: +49 2234 512 - 0
E-mail: [Link]@[Link], [Link]@[Link]
Email: info@[Link]
Website: [Link]
Website: [Link]

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 Buyer's Guide
T
Taphole Clay
Elkem ASA, Silicon Products
Tel: +47 38017500
Email: [Link]@[Link] VGH Viktoria Garten Hüttenindustriebedarf GmbH Germany
Website: [Link]/silicon-products/refractories/ Tel: +49-2324-9770800
Email: info@[Link]
Website: [Link]

Silicon Metal Powder

Anyang DX Silicon Industry Co., Ltd.

Contact: Ms Lucy Li
Vesuvius China
Mobile/WhatsApp: +86-13526128698
Tel: +86 512 6741 6947
Email: lucy@[Link]
Email: [Link]@[Link]
Website: [Link] / [Link]
Websit: [Link]

Silicon Nitride
Tundish Linings

Monocon International Refractories Limited

Tel: +44 1709 864848 (UK), +86 22 66293245 (China)
Shanxi Jindongnan Shenhua New Materials Co., Ltd. Email: sales@[Link]
Contact: Mr. Liu Website: [Link]
Mob: +86-15286966660
Email: 15286966660@[Link]
Website: [Link]
U
Ultra-Light High Temperature Insulation

Anyang DX Silicon Industry Co., Ltd. Carborundum Universal Limited - Electro Minerals Division
Contact: Ms Lucy Li Tel: +91 484 3023600, +91 484 3023627
Mobile/WhatsApp: +86-13526128698 Email: salesemd@[Link]
Email: lucy@[Link]
Website: [Link] / [Link]

Z
Zirconia - Stabilized
SioxX Specialties

Elkem ASA, Silicon Products Carborundum Universal Limited - Electro Minerals Division
Tel: +47 38017500 Tel: +91 484 3023600, +91 484 3023627
Email: [Link]@[Link] Email: salesemd@[Link]
Website: [Link]/silicon-products/refractories/

Slag Control Systems & Metallurgical Lances Fused Zirconia Alumina

Monocon International Refractories Limited

Carborundum Universal Limited - Electro Minerals Division
Tel: +44 1709 864848 (UK), +86 22 66293245 (China)
Tel: +91 484 3023600, +91 484 3023627
Email: sales@[Link]
Email: salesemd@[Link]
Website: [Link]

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