[SMM Titanium Spot Express: Titanium Dioxide Market Remains in the Doldrums, Supply Divergence Persists as Prices Creep Upward Slowly] On September 2, the SMM titanium dioxide index stood at 14,080 yuan/mt, with quotes for all grades unchanged. Supply-side cargo divergence was evident in the market, with some enterprises offering discounts to move inventory. Downstream demand remained weak with no concentrated restocking yet, and the effectiveness of price adjustments still needs to be verified. In the short term, prices are expected to consolidate.

[Cost Support Lifts Magnesium Ingot Quotations; Weak Demand in Domestic and Overseas Markets May Keep Prices Consolidating] Mainstream quotations for magnesium ingot in Fugu stand at 16,050-16,150 yuan/mt, with FOB prices at $2,280-2,380/mt. Domestic producers are actively holding prices firm on cost support, but downstream purchases remain cautious and high-price deals are hard to close. The overseas market is rising passively in tandem with China without any substantial improvement in ex-China demand. Magnesium prices are likely to consolidate within a range in the short term.