Weekly Magnesium Production and Operating Rates Remained Flat, Inventory Trends Diverged [SMM Magnesium Weekly Data]

Published: May 21, 2026 19:08

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[Magnesium Weekly Production and Operating Rate Flat, Inventory Trends Diverge] From May 15 to May 21, weekly production at sampled magnesium plants nationwide was 23,576 mt, with a weekly operating rate of 77.4%, basically flat WoW.

Brief Commentary on Production and Inventory

1.1 Weekly Production

From May 15 to May 21, the weekly production of sampled magnesium plants nationwide was 23,576 mt, with a weekly operating rate of 77.4%, basically flat WoW.

1.1 Weekly Inventory

1. Producer inventory decreased 4.22% WoW. Magnesium ingot producers faced increasing pressure this week, stepping up shipments. Downstream buyers restocked on dips, driving a recovery in market transactions. Increased spot cargo circulation facilitated rapid digestion of enterprise inventory, with overall industry inventory declining steadily.

2. Social inventory rose 2.6% WoW, mainly due to traders' increased willingness to stockpile after slight price reductions. Meanwhile, concentrated month-end order deliveries and stockpiling led to an increase in port inventory. It is expected that inventory may pull back next week as goods are gradually shipped out.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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