I. Leading Companies Report Sharp Profit Increases
On July 14, Oriental Zirconium (002167.SZ) issued a performance forecast, estimating a net profit attributable to shareholders of RMB 65 million to 95 million for the first half of 2026, representing a year-on-year increase of 123.55% to 226.72%. The growth was primarily driven by the recovery of the zirconium industry and continued rises in product selling prices, while the company also effectively reduced production costs through optimized product mix and process improvements.
On the same day, Sanxiang Advanced Materials (603663.SH) also announced that it expects a net profit of RMB 69 million to 80 million in the first half of the year, up 53.65% to 78.14% year-on-year, mainly benefiting from the ramp-up in shipments of nuclear-grade sponge zirconium and nano-zirconium products.
In addition, Sinocera Materials stated on July 14 that, affected by changes in supply and demand in the upstream and downstream dental zirconia market, the capacity utilization rate of its zirconia powder is steadily improving, and the company is actively planning capacity expansion plans.
II. Market Maintains High-Level Standoff
According to the zirconium market daily report for July 14–15, the current zirconium product market is in a high-level standoff characterized by "strong cost support but weak demand follow-through." Zircon sand is quoted at approximately RMB 12,200/ton, and zirconium oxychloride at about RMB 19,500/ton. The world's largest zircon sand mine, Australia's Jacinth-Ambrosia, is expected to be depleted by 2028 and has already begun reducing production from 2026 onward, with supply continuing to tighten; however, downstream demand from the ceramics and other industries remains weak, hindering the pass-through of price increases. Prices are expected to fluctuate at high levels.
III. Other Developments
The reference standard samples of zirconium middlings and zirconium concentrate, independently developed by Jinan Metallurgical Research Institute, were officially launched on July 8, filling the gap in the shortage of zirconium ore standard sample categories in China.
