China June Power Demand Growth Slows Sharply

[Kilat Tungsten] Pada 24 Juni, Perusahaan Tungsten Tieshanlong mengumpulkan personel terkait dari departemen terkait, unit konstruksi, dan unit pengawas untuk mengadakan rapat koordinasi tahap pertama proyek perluasan 396.000 metrik ton di area tambang Shangping. Rapat mendiskusikan secara mendalam berbagai persiapan pra-konstruksi, dengan fokus mengkoordinasikan aspek-aspek kunci seperti pengajuan dokumen unit konstruksi, penyerahan gambar konstruksi, mobilisasi peralatan, dan pelatihan personel. Ke depannya, perusahaan akan secara ketat mengikuti arahan rapat, berkoordinasi dan bekerja sama dengan semua pihak untuk memajukan setiap tugas sesuai jadwal, serta mengupayakan dimulainya pembangunan proyek secepat mungkin.

[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.