With slow destocking, operating rates of EFs edged down 

Operating rate of BFs was 89.45% on March 20, up 0.3 percentage points WoW, SMM survey showed.

In January 2024, China's magnesium alloy monthly operating rate was 45.81%, an increase of 3.01% month-on-month and a year-on-year decrease of 1.76%

In January, the average monthly price of 9990 magnesium ingots in the main producing areas was 20,190 yuan per ton, down 1.2% month-on-month. Looking back at January: At the beginning of the month, bearish sentiment still prevailed in the magnesium market, with prices continuing their downward trend from the previous year, falling to 20,100 yuan per ton, once again approaching the cost margin, leading to an increase in the willingness of magnesium plants to support prices; In mid-Jan, pre-spring-festival stockpiling makes the market price went a bit higher; Now, domestic 9990 magnesium ingots prices reduced to around 20100 again.

On January 31, the operating rate of BF steel mills was 88.55%, up 0.15 percentage points WoW, SMM survey showed.

Sichuan Yahua Group revealed the progress of Zimbabwe's Kamativi lithium mine.

Arizona Lithium released the pre-feasibility study (PFS) for its Prairie lithium project in Saskatchewan, Canada, highlighting low operating costs, which positions the project among the lowest-cost producers globally. 

SMM Data：Weekly operating rate of domestic copper rod enterprises

SMM data: Weekly average operating rate of refined tin smelters in Yunnan and Jiangxi

SMM Data：Weekly operating rate of domestic copper rod enterprises