Jingxi Daxinan's Selenium Dioxide Tender Successfully Closed, Market Sentiment Uplifted

[SMM Magnesium Weekly Inventory Brief] This week, social inventories decreased by 3.00% month-on-month, showing a regional divergence. In major production areas, inventory reduction was more pronounced due to the progress of long-term contract deliveries and production cuts by some manufacturers. Meanwhile, Tianjin Port experienced slight inventory accumulation as low-priced resources stimulated traders' stockpiling. Overall, the inventory reduction in production areas provided some bottom support for magnesium prices, but the port inventory accumulation reflects persistent export difficulties, with short-term supply-demand imbalances still awaiting resolution.

Antimony market prices continued to weaken this week. As the second half of June sets in, overall market trading activity remains sluggish. While end-users across the board are holding inventories at very low levels, the wait-and-see attitude in procurement remains pronounced, with purchases limited to immediate needs. Certain enterprises continue to offload material, still offering price concessions, with the primary objective being to move product. As of now, SMM antimony average prices are as follows: Grade 2 low-bismuth antimony ingot at 127,500 yuan/tonne, 99.5% grade at 108,500 yuan/tonne and 99.8% grade at 117,500 yuan/tonne.

[Producer Daily Output Increase Covers Maintenance Reduction; Transaction Recovery Fails to Halt Factory Inventory Buildup] During June 12-18, magnesium weekly output rose WoW, with maintenance at some enterprises not offsetting the supply increase. Factory inventory edged up slightly, while social inventory diverged, as producing regions destocked and port inventories built up. Weak exports put short-term supply-demand under pressure.