SMM Analysis Of Magnesium Alloy In July And Forecast For August

Published: Aug 12, 2024 15:42

Source: SMM

Save

According to SMM data, China's magnesium alloy production in July 2024 was 31,700 mt, up 20% YoY.

In July, the operating rates of downstream processing enterprises for magnesium alloy decreased. The competition in processing fee quotations for magnesium alloy orders intensified, but the high aluminum prices significantly highlighted the cost-effectiveness of magnesium alloy, leading to a steady increase in end-user attention. Major magnesium alloy producers were operating at near full capacity. The reduction in production this month was due to some magnesium alloy producers scheduling maintenance during the high summer temperatures. The continued low-level consolidation of raw material magnesium ingot prices significantly highlighted the cost-effectiveness of magnesium alloy. Orders for magnesium alloy are expected to recover in August, and considering the gradual release of new production capacity from major magnesium alloy producers, SMM expects magnesium alloy production in August to recover to 33,000 mt.

Market forecast Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

A mine in Henan opened bids for a 300 mt tungsten concentrate auction on February 6.

[Tungsten Concentrate Tender Information] SMM February 7: A mine in Henan conducted an online tender on February 6 to sell 300 metric tons of low-grade tungsten concentrate. Lot A had an average WO3 grade of ≥25%, while Lots B and C had an average WO3 grade of ≥22%. The tender results for each lot are as follows: Lot A: 100 metric tons, tender price of 10,155 yuan/mtu. Lot B: 100 metric tons, tender price of 10,160 yuan/mtu. Lot C: 100 metric tons, tender price of 10,155 yuan/mtu.

2 hours ago

Ganzhou Tungsten Association Significantly Raises Tungsten Price Forecast for February 2026

[Ganzhou Tungsten Industry Association's February Tungsten Price Forecast] The Ganzhou Tungsten Industry Association's forecast prices for the tungsten market in February 2026 are as follows: 55% black tungsten concentrate at 670,000 yuan per metric ton unit, up 210,000 yuan per metric ton unit MoM from the January price, an increase of 45.65%; ammonium paratungstate at 970,000 yuan/mt, up 300,000 yuan/mt MoM, an increase of 44.78%; medium-grain tungsten powder at 1,630 yuan/kg, up 480 yuan/kg MoM, an increase of 41.74%.

2 hours ago

Tungsten Market Rallies Strongly, Long-Term Contract Prices Surge & Domestic-Overseas Markets Link Up

Driven by tight spot raw material supply, a sharp hike in corporate long-term contract prices and festive effects, the tungsten market saw price rises on shrinking volumes this week with domestic and overseas markets moving up in tandem; the strong short-term trend is set to continue, and attention should be paid to the resumption of cemented carbide production, scrap tungsten supply and downstream demand release after the Spring Festival.

2 hours ago