[SMM Magnesium Morning Meeting Summary: Market Deadlock Persists as Buyers and Sellers Remain in Stalemate] Current magnesium alloy inventory levels are at a low, providing a floor for prices. With relatively small inventory pressure, smelters generally lack the willingness to lower selling prices, leading to multiple rebounds after magnesium prices hit periodic lows. Overall, magnesium prices maintained a slight fluctuation trend.

[SMM Spot Magnesium Ingot Report: Magnesium Producers Show Strong Reluctance to Budge on Prices, Magnesium Prices Remain Stable Today] SMM reported on June 30 that today, magnesium producers exhibited a strong reluctance to budge on prices. The mainstream quotations for magnesium ingots in the Fugu region ranged from 16,200 to 16,300 yuan/mt, while the mainstream transaction prices were between 16,150 and 16,200 yuan/mt. Trading volume was average, and magnesium prices remained stable amidst a stalemate.

[SMM Magnesium Morning Meeting Summary: Prices Consolidate Sideways, Market Awaits Breakthrough Direction] SMM reported on June 30 that magnesium product prices remained stable overall at month-end: Fugu magnesium ingot at 16,200 yuan/mt, magnesium alloy at 17,700-17,900 yuan/mt, and magnesium powder at 17,450-17,650 yuan/mt. Raw material prices included dolomite at 78-128 yuan/mt and ferrosilicon at 5,600-5,700 yuan/mt. The market continued to exhibit a weak balance between supply and demand, with magnesium prices fluctuating rangebound within 16,000-16,300 yuan/mt for three consecutive weeks. Producers' refusal to budge on prices and expectations of production resumptions have created a tug-of-war. The release of new magnesium alloy capacity has intensified competition in processing fees, while magnesium powder maintains a cost-supported trend. In the short term, in the absence of new driving factors, the market may continue to fluctuate rangebound. It is recommended to pay attention to the actual progress of production resumptions in July and the recovery of overseas orders.

[SMM Analysis: Raw material prices are under pressure, while the average profit of the magnesium ingot industry remains at highs] According to SMM, ferrosilicon and coal, which account for the majority of the raw material costs for magnesium ingots, have been in a slump due to the loose market supply since the beginning of this year. On the other hand, due to the relatively concentrated maintenance and production cuts of magnesium ingot enterprises, the supply of magnesium ingots has been tight, and prices have shown an upward trend, leading to an expansion in the average profit of the magnesium ingot industry.

[SMM Magnesium Ingot Spot Report: SMM reported on June 27 that today's Fugu magnesium ingot offers range from 16,150 to 16,250 yuan/mt, with FOB offers ranging from $2,220 to $2,300/mt. Prices have fluctuated rangebound within the 16,000 to 16,300 yuan/mt range for three consecutive weeks. The current market shows a weak balance between supply and demand: On the supply side, production remains stable, but the expected resumption of production in July may disrupt the current price-holding pattern of producers. On the demand side, domestic trade is stable, while foreign trade orders have stalled temporarily, with traders buying the dip to fulfill existing orders. In the absence of new demand stimuli, it is expected that prices will maintain a fluctuating trend in the short term, and may face downward pressure in July.]

[SMM Analysis: Magnesium Trade Dynamics Alloys Rise to 58% Share Amid Ingot Export Collapse] According to data from China Customs, the total export volume of magnesium products in May showed a month-on-month increase, but with notable shifts in product mix: magnesium alloy emerged as the dominant export category, while magnesium ingot exports fell to their lowest level in nearly a year, down 14.43% year-on-year. Europe's market share declined to 28%, while demand remained relatively stable in Asia (South Korea, India) and North America.

[SMM Magnesium Morning Meeting Summary: The stalemate in the magnesium market continues, with strong wait-and-see sentiment] Low inventory provides bottom support, magnesium plants have low willingness to sell at reduced prices, magnesium prices have bottomed out and rebounded several times, showing a fluctuating rangebound trend.

[SMM Weekly Magnesium Review: Suppliers Reluctant to Sell amid Strong Sentiment, Magnesium Prices Bottom Out and Rebound] This week, the magnesium ingot market generally exhibited a fluctuating rangebound trend, involving multiple links such as dolomite, magnesium ingot, magnesium alloy, and magnesium powder.

[SMM Magnesium Morning Meeting Summary: Magnesium Prices Fluctuate Rangebound amid Strong Wait-and-See Sentiment] SMM reported on June 26 that magnesium product prices remained stable overall today: Fugu magnesium ingot was priced at 16,100-16,200 yuan/mt (↑100), with FOB quotes at 2,220-2,280 US dollars/mt; magnesium alloy was priced at 17,700-17,900 yuan/mt (FOB 2,480-2,510 US dollars); magnesium powder was priced at 17,400-17,600 yuan/mt (FOB 2,370-2,440 US dollars). On the raw material side, dolomite prices remained stable (78-128 yuan/mt in Wutai), while ferrosilicon was priced at 5,600-5,700 yuan/mt. The market overall showed a weak balance between supply and demand, with producers tentatively raising prices but limited acceptance from downstream buyers, and transactions remaining sluggish. Overseas procurement has temporarily come to an end, with actual transaction prices still under pressure. It is expected that the magnesium market will continue to exhibit a fluctuating trend within a narrow range in the short term.

[SMM Spot Magnesium Ingot Report: Market Enters Consolidation Phase, Magnesium Prices Rise Slightly Today] SMM reported on June 25 that today's Fugu magnesium ingot quotes ranged from 16,100 to 16,200 yuan/mt, up 100 yuan from the previous day; FOB quotes remained stable at $2,220 to $2,280/mt. The market continued to fluctuate rangebound, with producers tentatively raising prices but insufficient demand following up. Trading activity declined after the completion of large-order procurements. The overseas market returned to a wait-and-see attitude after the end of concentrated procurement, with actual transaction prices still below $2,200/mt. Currently, supply and demand are in a weak balance, and short-term prices are expected to maintain sideways movement.