SMM Analysis Of Magnesium Powder In July And Forecast For August

According to SMM data, China's magnesium powder production in July 2024 was 6,100 mt, down 4.0% MoM and up 12.9% YoY.

The slight increase in July's magnesium powder production was influenced by several factors, including sluggish orders from magnesium powder companies and downstream enterprises' cautious attitude due to fluctuating magnesium ingot prices. As a result, some magnesium powder companies maintained low production levels. A representative from a large magnesium powder company stated that the weak domestic economic situation has led to thin steel mill profits and frequent changes in magnesium ingot prices, causing downstream buyers to be cautious. Considering that low-priced magnesium ingots might stimulate an increase in magnesium powder orders, SMM expects domestic magnesium powder production in August to remain at 6,000 mt.