Ferrous Metals Share Prices Shoot Up

[SMM Magnesium Express]Recently, Shanghai FANUC collaborated with Fengyang Ailse Light Alloy Precision Forming Co., Ltd. to develop a customized integrated die-casting automation solution for magnesium alloy, successfully overcoming the bottleneck in large-scale production. This solution covers the entire process, including high-temperature part removal and workpiece handling, and is suitable for producing various magnesium alloy components such as electric vehicle frames and new energy vehicle battery housings. The production line has been operating continuously and stably for over half a year, significantly improving production efficiency and product consistency. With ongoing advancements in die-casting automation, the large-scale application of magnesium alloy in the new energy vehicle and electric two-wheeler sectors is expected to accelerate further.

[SMM Magnesium Express]Recently, according to Da Jiang News, the Linchuan Branch of Shanghai Pudong Development Bank, in collaboration with financial peers in the jurisdiction, successfully issued the first syndicated loan for the magnesium-based new materials industrial park in Fuzhou City, with a credit amount of 550 million yuan. This loan will be used to support the park's infrastructure construction and corporate capacity expansion, accelerate the aggregation of upstream and downstream supporting industrial projects, and provide financial backing for the Linchuan magnesium-based industry's transition from "point breakthrough" to "chain rise.".

[Magnesium Prices Hit Bottom and Stabilize; Supply-Demand Under Pressure, Consolidating] Today, the quotation for 99.90% magnesium ingot in the main production area was 15,750-15,800 yuan/mt, up from the previous working day.