According to SMM data, China's magnesium powder production in May 2024 was 5,976 mt, up 22% MoM and 8.7% YoY.

The production of magnesium powder in May slightly decreased due to multiple factors, including the sluggish order of magnesium powder producers together with the fluctuating magnesium ingot prices causing strong wait-and-see sentiment among downstream producers, leading to a reduction in production for some magnesium powder producers. A representative from a large magnesium powder producer said that the weak domestic economy impacted steel mills' profits, with frequent changes in magnesium ingot prices making downstream procurement attitudes cautious. Considering that low-price magnesium ingots may stimulate magnesium powder orders, SMM expects domestic production of magnesium powder to remain at 5,500 mt in June.