Magnesium Market Sees Increased Trading, Inventory Down 0.1% MoM Despite High Production Levels

[SMM Weekly Magnesium Production Flash Report] From April 24 to April 30, the weekly production of sampled magnesium plants nationwide was 23,996 tons, with a weekly operating rate of 78.7%, down 0.5% month-on-month.

[SMM Magnesium News] On April 27, at the construction site of the 1,000-ton-level high-efficiency magnesium-based solid-state hydrogen storage material demonstration project of Fude Jinyu (Yulin) Hydrogen Energy Technology Co., Ltd. Large machinery was operating in an orderly manner, transport vehicles were shuttling back and forth, and construction workers were each performing their duties. The main foundation works were basically completed, and the erection of internal and external scaffolds for the substation, analysis and testing laboratory, etc. was in progress. The 2,000-ton/year magnesium hydride large-scale production plant and supporting public auxiliary facilities under construction are the world's first 1,000-ton-level magnesium hydride production line.

[SMM Flash News] Gansu Baomei Xitie Alloy ignited a 40,500 kVA ferrosilicon furnace with a daily production capacity of approximately 110 tons, supporting the 300,000-ton magnesium alloy project of Baowu Magnesium Industry in Gansu, backing the long-term plan of 500,000 tons, ensuring self-sufficiency in raw materials for magnesium smelting, and reducing costs.