Magnesium Inventories Decline as Smelters Shut Down for Maintenance, Regional Disparities Evident

[SMM Magnesium Survey: Panther Metals Achieves 38% Magnesium Recovery at Dotted Lake Project, Adding Potential New Supply Source for North American Critical Minerals] Panther Metals achieved a cumulative magnesium recovery of approximately 38% in the first phase of metallurgical testing at the Dotted Lake project in Ontario, Canada, using Extrakt's patented leaching technology, and confirmed that the ore body is rich in critical minerals such as nickel and cobalt. The project has moved from pure geological exploration to a potential strategic supply source, in line with North American critical minerals localization policy direction, but further technical and economic studies are needed before commercialization can proceed.

[SMM Survey: Magnesium/Aluminum Price Ratio at 0.72 Window Period, Automakers Accelerate "Magnesium Substituting Aluminum" Lightweighting Layout] Since 2026, breakthroughs in semi-solid die-casting and other processes coupled with a pullback in the magnesium/aluminum price ratio have driven magnesium alloy automotive die castings to accelerate penetration from non-load-bearing small parts to core structural parts such as electric drive housings and rear floors, with application achievements from the four major enterprises being intensively implemented.

[Magnesium Market Drifts Lower, Downstream Restocking on Dips Improves Transactions] The magnesium ingot market continued to weaken today, with the transaction center moving further downward. In the morning, the market was in a stalemate as participants waited on the sidelines. In the afternoon, after smelters lowered their offers, downstream buyers restocked on dips, leading to improved transactions. Supported by costs, smelters had limited room to cut prices, and short-term magnesium prices are expected to consolidate in a narrow range.