Offers of Minor Metals in Europe (2017-10-26）

[Molybdenum Express] SMM, June 18 – Tiangong International issued a June price adjustment letter for high-speed steel: Affected by the continuous rise in prices of alloy raw materials such as ferrotungsten and ferromolybdenum, as well as steel scrap, the enterprise issued a price adjustment notice: Effective from 00:00 on June 17, 2026, prices for all newly signed spot and contract orders would be uniformly raised. For all specifications, the base price of high-speed steel grades containing 1% molybdenum (Mo) would be raised by 500 yuan per mt. This price adjustment aims to stabilize raw material supply.

[SMM Magnesium Market Analysis: Multiple Bullish and Bearish Factors at Play, Supply-Demand Tug-of-War Unresolved, How Will the Magnesium Market Perform Going Forward?] Since June, the supply-demand tug-of-war over magnesium prices has been intensifying. The EXW price of 99.90% magnesium ingot (from Fugu and Shenmu) has moved sideways around 16,300–16,400 yuan/mt, with its fluctuation range narrowing sharply. The magnesium market is stuck in a supply-demand stalemate. Downstream end-users' acceptance of high magnesium prices has visibly decreased, while primary magnesium smelters, supported by costs, have held the bottom line. As a result, magnesium prices are locked in a pattern where they are hard to either rise or fall.

[Magnesium Market Remained Weak, Transactions Under Pressure] Today, the magnesium ingot market continued to remain in the doldrums. The pattern of strong supply and weak demand was hard to change. Producers' inventory pressure grew, offers dipped but transactions were scarce. Coupled with insufficient new orders from outside China and rising ocean freight rates curbing exports, magnesium prices still faced downward pressure in the short term.