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.

[텅스텐 플래시] 6월 24일, 톄샨룽 텅스텐 회사는 관련 부서 인력과 시공사, 감리사를 소집하여 상핑 광산 39만 6,000톤 확장 사업 1단계 조정 회의를 개최했습니다. 회의에서는 착공 전 준비 사항을 심도 있게 논의하며 시공사 등록, 시공 도면 제공, 장비 동원, 인력 교육 등 주요 사안을 집중 조율했습니다. 향후 회사는 회의 조치에 따라 각 사업이 계획된 기간 내 진척될 수 있도록 모든 관계자와 협력하여 최대한 신속히 공사가 시작되도록 노력할 것입니다.

[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.