Australian Latrobe Magnesium Shifts Focus to US $1.5B Magnesium Project in South Carolina

【SMM Magnesium Flash】Recently, Anhui Baomai Light Alloy Co., Ltd., a subsidiary of Baowu Magnesium Industry, has been approved to establish a national-level postdoctoral research station. Anhui Baomai has led the establishment of the province's only magnesium-based new material industry innovation research institute, with a total of 38 patents applied. Its base has a total investment of over ten billion yuan, achieving integrated operation from mining to smelting to deep processing through a 23-kilometer raw material corridor. The research station will focus on tackling core technologies such as lightweighting for new energy vehicles and magnesium hydrogen storage. With the implementation of this platform, the cultivation of high-level talent and the transformation of research achievements in magnesium-based new materials are expected to accelerate further, helping Chizhou build a world-class production base for magnesium-based new materials.

[Improving marginal transactions, magnesium ingot consolidates in the short term] Today, China's magnesium ingot offers held steady at 15,800 yuan/mt. Some traders entered the market to stockpile, driving a slight recovery in transactions and easing bearish sentiment. The subsequent market trend will still depend on the follow-through strength of restocking orders, with the short-term market maintaining a fluctuating trend.

[Both Domestic and Overseas Markets Under Pressure, Magnesium Ingot Moves Sideways in the Short Term] Today, magnesium ingot quotes in Fugu continued to decline. The magnesium ingot market in China and overseas is under pressure simultaneously. The market is waiting for stockpiling to be released from mid-to-late September to before the National Day holiday. In the short term, prices are likely to move sideways.