来源：市场资讯 （来源：矿业俱乐部） 镉0#28600-29600元/吨0铬99A81100-84600元/吨0碲741-751元/千克 0 铼28100-32600 元/千克0 锑0#锑锭171100-174100元/吨100002#高铋163100-166100元/吨10000镁99.9%上 海17005-17105元/吨 0 铌≥99.9%665-675元/千克0钒≥99.5%1461-1561元/千克0电解锰广西 13400-13600元/吨 0金属锂≥99%575100-610100元/吨0金属砷6705-7205 元/吨0海绵钛≥97-98%45-46元/千克0海绵锆≥99% 166-171元/千克0 1631-1681元/吨碳酸稀土44305-44705元/吨红土镍矿 1.8%（FOB） 72-75美元/湿吨 非金属报价 产品名称 矿产品报价品名规格产地涨跌铜精矿18-20%74012-77769元/金属吨铅精矿50%河南16650-16800元/金属 吨云南16750-16900元/金属吨锌精矿50%云南 18604-18704元/金属吨 湖南18554-18654元/金属吨钼精矿45%367 ...

Core Insights - Cangge Mining reported a revenue of 2.401 billion yuan for the first three quarters of 2025, a year-on-year increase of 3.35%, and a net profit attributable to shareholders of 2.75 billion yuan, up 47.26% year-on-year [1] - In Q3 2025, the company achieved a revenue of 723 million yuan, representing a 28.71% increase year-on-year, and a net profit of 950 million yuan, which is a 66.49% increase year-on-year [1] - The significant contribution to investment income from the associated company, Julong Copper, which produced 142,500 tons of copper and generated a net profit of 6.421 billion yuan, leading to an investment income of 1.95 billion yuan for Cangge Mining, accounting for 70.89% of the net profit attributable to shareholders [1] Group 1: Financial Performance - Cangge Mining's revenue for the first three quarters reached 2.401 billion yuan, with a 3.35% year-on-year growth [1] - The net profit attributable to shareholders for the same period was 2.75 billion yuan, reflecting a 47.26% increase year-on-year [1] - In Q3 alone, the company reported a revenue of 723 million yuan, marking a 28.71% increase year-on-year, and a net profit of 950 million yuan, which is a 66.49% increase year-on-year [1] Group 2: Investment Contributions - Julong Copper's performance significantly boosted Cangge Mining's profitability, with an investment income contribution of 1.95 billion yuan, which is 70.89% of the net profit attributable to shareholders [1] - Julong Copper's copper production for the year reached 142,500 tons, with a revenue of 11.821 billion yuan and a net profit of 6.421 billion yuan [1] - The investment income from Julong Copper increased by 587 million yuan, a growth of 43.09% year-on-year [1] Group 3: Project Developments - The second phase of the Julong Copper Mine expansion project has made significant progress, with successful trial operations of the second concentrator [2] - The completion of the Julong Copper Mine's second phase is expected to increase annual copper production to between 300,000 and 350,000 tons, laying a solid foundation for future performance growth [2] - Cangge Lithium, a subsidiary of Cangge Mining, resumed lithium resource development activities after receiving approval, with production officially restarting on October 11, 2025 [2] Group 4: New Projects and Licenses - The Marmicuo Salt Lake project aims to produce 50,000 tons of battery-grade lithium carbonate annually, with an estimated total investment of 4.537 billion yuan [3] - Cangge Potash Fertilizer, a wholly-owned subsidiary, received mining rights and permits, allowing for the development of lithium and boron resources alongside potassium salt [3] - The new permits are expected to enhance the long-term development of potassium salt and support the stability of potassium chloride supply, contributing to national food security [3]

Core Viewpoint - The article highlights a case in Zhuzhou, Hunan, where a rice noodle shop was found to be illegally adding borax to its products, posing significant health risks to consumers [3][6]. Group 1: Incident Overview - The Zhuzhou police received reports about a rice noodle shop potentially adding borax to its dishes, leading to an investigation [3]. - The shop owner admitted to using borax for over a year to enhance the texture and sales of the rice noodles, despite knowing it was prohibited [3][6]. - The owner has been taken into criminal custody for producing and selling toxic and harmful food [3]. Group 2: Health Risks of Borax - Borax, chemically known as sodium tetraborate, is banned from food products due to its toxic nature [5][6]. - Ingestion of borax can lead to severe health issues, including digestive problems, weight loss, and acute poisoning symptoms such as diarrhea and vomiting [6]. - The toxic dose for adults is between 1 to 3 grams, while 15 grams can be fatal; for infants, as little as 2 to 5 grams can be lethal [6]. Group 3: Common Practices and Detection - The illegal addition of borax is prevalent in various food items, including pork, rice dumplings, and noodle products, to enhance freshness and texture [8]. - Borax is inexpensive, costing around 5 yuan for 500 grams, making it attractive for unscrupulous vendors [8]. - Consumers can identify borax-laden foods by observing unusual brightness, feeling for a sticky texture, and using pH test strips [8].

Core Viewpoint - The "borax pork" incident has raised significant public concern regarding food safety, highlighting the rampant online sale of borax and misleading promotions of "edible borax," which pose a serious threat to food safety [1][2]. Group 1: Food Safety Concerns - Borax is classified as a toxic compound, and its use in food production is explicitly prohibited by national regulations [2][5]. - High-purity borax is being sold online under misleading labels, with some vendors promoting it as "edible" and suggesting it enhances food texture [2][3]. - A specific online store sold 500 grams of 95% pure borax for only 12.5 yuan, with significant sales volume and positive customer reviews, indicating a troubling trend in consumer behavior [2][3]. Group 2: Illegal Additives in Food - Reports indicate that illegal borax use in food, particularly in meat and dough products, is becoming increasingly common, with some vendors caught adding borax to pork to mimic beef [4][5]. - Recent inspections revealed that certain eateries were found to have illegally added borax to their food products, leading to legal actions against the offenders [4][5]. Group 3: Health Risks and Expert Opinions - Experts warn that even small amounts of borax can pose health risks, including gastrointestinal issues and potential long-term damage to reproductive and endocrine systems [6][7]. - The adult toxic dose of borax is identified as 1-3 grams, with children being particularly vulnerable to its harmful effects [6][7]. - Recommendations include stricter regulation of chemical product sales on e-commerce platforms and increased inspections of high-risk food products to combat illegal borax use [7].

Core Viewpoint - The recent incident of suspected borax being applied to pork has sparked significant public concern and discussion, leading to reports being made to market regulatory authorities for inspection [1][2]. Group 1: Health Risks - Borax is a toxic substance that is explicitly prohibited from being added to food in China, and its presence in food products can lead to serious health issues, including digestive problems, appetite loss, and acute poisoning symptoms [2][6]. - Long-term consumption of food containing borax can be life-threatening, with a lethal dose for adults being 15 grams and only 2-3 grams for infants [6]. Group 2: Detection Methods - Consumers can identify borax in pork by its slippery texture, darker color compared to fresh pork, and the presence of white powder or a faint alkaline smell [6][12]. - For other products like tofu, glutinous rice dumplings, and rice noodles, signs of borax include unusual texture, excessive toughness, and a slippery feel when wet [8][12].

Overview - The borax market in China is experiencing continuous growth due to the rapid development of downstream markets such as glass manufacturing, detergents, and ceramics, with a projected demand of 987,200 tons in 2024 [1][11] - China's borax production has remained between 100,000 to 160,000 tons in recent years, leading to a high import dependency of 89.51% with an expected import volume of 883,600 tons in 2024 [1][11] Industry Background - Borax, also known as sodium tetraborate, is a key mineral resource in China, with policies implemented to protect boron resources and regulate mining practices to ensure sustainable development [3][4] - The production technology for borax has improved, particularly with advancements in salt lake brine extraction methods, enhancing resource utilization and reducing production costs [3][4] Industry Chain - The borax industry chain consists of upstream boron mining, midstream borax production and processing, and downstream applications in various sectors including glass, detergents, pharmaceuticals, ceramics, and fertilizers [5] Upstream Market - Boron mining is the most critical upstream market for the borax industry, with major resources located in Liaoning, Qinghai, and Tibet. The production of boron ore is expected to increase from 300,000 tons in 2023 to 340,000 tons in 2024 [7] Downstream Demand - Glass manufacturing is the largest consumer of borax in China, accounting for over 40% of the demand. The production of flat glass is projected to reach 1,000,417 tons in 2024, with a year-on-year growth of 1.31% [9][11] - The production of laminated glass is expected to reach 15,765,100 square meters in 2024, reflecting a growth of 7.17%, indicating a robust demand for borax in the glass industry [9][11] Competitive Landscape - The borax production enterprises are primarily located in Liaoning, Tibet, and Qinghai, with Liaoning having a significant share of production capacity due to its industrial cluster effect [13] - Key players in the industry include Fengcheng Chemical Group, which produces a substantial portion of the national borax output, and Yingkou Tenglong New Materials, known for its extensive resource reserves and production capabilities [14][17] Development Trends - Future demand for high-purity and high-performance borax products is expected to rise in high-end sectors such as semiconductors and aerospace, prompting companies to increase R&D investments [19] - With stricter environmental regulations, borax enterprises are likely to enhance their focus on eco-friendly technologies, aiming for efficient waste treatment and resource recycling to promote green production [19]