China Weekly Inventory Summary and Data Wrap (May 6)

[SMM Silicone Weekly Review: Persistent Price Competition and Concessions by Upstream Silicone Enterprises to Offload Inventory Intensified Further Bearish Expectations Among Midstream and Downstream Clients] This week, China’s silicone DMC transaction prices lost ground again and plunged sharply, with the transaction price range at 12,800-13,000 yuan/mt and the average price at 12,900 yuan/mt, down 1,100 yuan/mt WoW.

[Flash Tungstène] Le 24 juin, la Compagnie de Tungstène Tieshanlong a réuni le personnel concerné des départements concernés, de l'unité de construction et de l'unité de supervision pour tenir une réunion de coordination pour la première phase du projet d'extension de 396 000 tonnes métriques dans la zone minière de Shangping. La réunion a mené des discussions approfondies sur les divers travaux préparatoires avant la construction, en se concentrant sur la coordination d'aspects clés tels que l'enregistrement de l'unité de construction, la livraison des plans de construction, la mobilisation des équipements et la formation du personnel. À l'avenir, l'entreprise suivra strictement les dispositions de la réunion, coordonnera et coopérera avec toutes les parties pour faire avancer chaque tâche selon les délais prévus, et s'efforcera de démarrer la construction du projet dès que possible.

[SMM Magnesium Weekly Review: Entire Magnesium Industry Chain Weakens; Supply-Demand Weakness Keeps Market Under Pressure] This week, China's magnesium industry chain was in the doldrums across the board. Dolomite prices in Wutai, Shanxi, remained flat. Regional supply tightened, but national supply was ample, and only just-in-time procurement was insufficient to drive prices higher. Fugu and Shenmu 9990 magnesium ingot mainstream prices were 15,750-15,850 yuan/mt, down 200 yuan on the week. High in-factory inventory prompted producers to sell at lower margins, while downstream buyers stayed on the sidelines, making only small restocking purchases, resulting in slow destocking. The average FOB price of magnesium ingot at Tianjin port was $2,275/mt. Overseas demand was sluggish due to the summer break, foreign buyers pushed for lower prices, and new orders were scarce. Falling raw material prices dragged down magnesium powder and magnesium alloy prices. Small and medium-sized magnesium alloy plants cut production, but earlier stockpiles were ample. Two-wheeler demand weakened, putting processing fees under pressure. Both upstream and downstream demand softened simultaneously, and cost support was insufficient. In the short term, the entire magnesium product range is expected to remain in the doldrums.