[SMM Magnesium Morning Meeting Summary: Magnesium Ingot Prices Continue to Rise, Industry Chain Maintains Tight Balance Overall] Yesterday, domestic magnesium ingot prices continued to rise, with transaction prices in the Fugu region reaching 16,300-16,400 yuan/mt, up 100 yuan from the previous day; FOB quotes also rose by $20 to $2,250-2,330/mt. On the raw material side, dolomite prices remained stable, with sufficient inventory in the Wutai region; the ferrosilicon market, driven by tenders from steel mills, saw prices running smoothly. The magnesium alloy market was supported by raw material costs, hovering at highs, but processing fees continued to face pressure; magnesium powder demand was robust, with manufacturers having sufficient orders. Overall, the current magnesium industry chain is showing a tight supply situation, but high prices are suppressing downstream purchase willingness. It is expected that the market will maintain a fluctuating trend at highs in the short term.

[SMM Spot Magnesium Ingot Report: Magnesium Ingot Market Sees Active Trading, Magnesium Prices Continue to Rise] SMM reported on July 8 that magnesium ingot prices in the Fugu region continued to rise, with mainstream quotations ranging from 16,300 to 16,400 yuan/mt, marking a daily increase of 100 yuan. The FOB China offshore price also increased by $20 to $2,250-$2,330/mt. Market trading activity improved, with a daily trading volume of 2,000 mt, driven mainly by traders' replenishment and downstream magnesium powder orders. However, it should be noted that actual transactions in overseas markets remained cautious, with the lowest transaction price maintained at $2,250/mt and a pullback in inquiry volume. The current supply-demand pattern still maintains a tight balance, with merchants' inventory continuing to run at a low level. Considering the off-season factor, the momentum for sustained and significant price increases in the future may weaken.

[SMM survey: New breakthroughs in global magnesium industry technology - Seawater magnesium extraction and solid waste recycling technologies emerge] The latest SMM survey shows that the global magnesium industry is experiencing a wave of technological innovation. The seawater electrolysis magnesium extraction technology developed by US-based Magrathea Company has received support from the US Department of Defense, with plans to build a demonstration plant by 2026; the fly ash magnesium extraction process developed by Australia's Latrobe Magnesium is also advancing. These emerging technologies provide more diversified development paths for the magnesium industry and may bring new possibilities to the future global magnesium supply chain. SMM will continue to monitor the progress of related technologies and their potential market impacts.

[SMM Magnesium Morning Meeting Summary: Strong Atmosphere of Refusing to Budge on Prices, Magnesium Prices Continue to Rise] Negative feedback from the upward trend in demand for magnesium alloy and aluminum alloy sectors during the off-season, with a reduction in procurement demand for magnesium ingots. Additionally, the overseas summer break has led to the completion of stockpiling for some foreign trade orders in advance, resulting in relatively limited support from the demand side. Overall, the magnesium market exhibits a pattern of weak supply and demand, and magnesium prices are expected to continue fluctuating rangebound in the subsequent period.

[SMM Spot Magnesium Ingot Report: Supported by Demand, Magnesium Prices Hold Up Well Today] SMM reported on July 7 that magnesium producers were offering firm quotes today, with magnesium prices rising slightly. The market quote for magnesium ingots in the Fugu region was 16,300 yuan/mt, and the mainstream transaction prices in the market were at 16,300 yuan/mt, up 100 yuan/mt from the previous working day.

[SMM Magnesium Morning Meeting Summary: Raw materials remain stable, magnesium ingot prices rise slightly, and the pattern of weak supply and demand continues] SMM reported on July 7 that the magnesium market remained stable overall last week, with minor fluctuations in some regions. In terms of raw materials, the price of dolomite in the Wutai area remained stable, with the ex-factory price (tax not included) of 1-3 material at 78 yuan/mt and 2-4 material at 128 yuan/mt. The mainstream ex-factory price of 75 ferrosilicon in Shaanxi was 5,600-5,700 yuan/mt, and the most-traded contract of futures closed at 5,364 yuan, dropping slightly by 6 yuan. In terms of magnesium ingot, the transaction price in the Fugu area was 16,150-16,250 yuan/mt, up 50 yuan from the previous day, and the FOB price remained stable at $2,210-2,310/mt. The tax-included ex-factory price of magnesium alloy was 17,800-17,900 yuan/mt, with an FOB price of $2,500-2,510/mt. The tax-included ex-factory price of magnesium powder was 17,450-17,650 yuan/mt, with an FOB price of $2,380-2,450/mt. Currently, the market is characterized by weak supply and demand, and under cost support, a weak consolidation trend may continue in the short term.

In June, the magnesium market saw an increase in production and a decline in prices. The average monthly price of 99.90% magnesium ingot in the main production areas was 16,197.5 yuan/mt, down 5.40% MoM from the previous month. The production of primary magnesium increased by 6.63% MoM. The market pattern of strong supply and weak demand resulted in weak support for magnesium prices, showing a price trend of first declining and then stabilizing.

[SMM Magnesium Weekly Review: Sideways Trading Continues, Awaiting Breakthrough Opportunities] This week, the magnesium market maintained a sideways consolidation trend overall, with limited price fluctuations across various varieties. Magnesium ingot prices continued to oscillate within the range of 16,100-16,200 yuan/mt, with both supply and demand showing weakness. Affected by capacity expansion, the magnesium alloy market saw intensified competition in processing fees, with prices remaining low. The magnesium powder market experienced sluggish trading, with producers manufacturing according to orders and only maintaining a small amount of working inventory. The performance of raw materials was mixed, with dolomite supply being sufficient and prices remaining stable, while ferrosilicon prices oscillated due to off-season demand. Currently, the market lacks clear directional guidance, with factories' reluctance to budge on prices continuing to clash with downstream cautious procurement. In the short term, in the absence of substantive positive factors, magnesium product prices may continue to remain in the doldrums. It is recommended to closely monitor the progress of production resumptions in July and the recovery of overseas demand.

[SMM Adds CFR (Japan) and CIF (South Korea) Magnesium Ingot Prices] To promote the international trade of magnesium ingots, help upstream and downstream enterprises worldwide better grasp market dynamics, obtain timely spot cargo information, reduce cross-border transaction risks and costs, and deepen research on the magnesium ingot industry chain, SMM will add and publish price points for magnesium ingot 9990 CFR (Japan) and magnesium ingot 9990 CIF (South Korea) starting from July 11, based on thorough market surveys, providing authoritative references for the international market.

[SMM Analysis: Magnesium Market in June Saw Increased Volume and Lower Prices; Production Resumption Plans of Magnesium Plants in Major Producing Areas Progressing in an Orderly Manner; Anticipated Slight Increase in Raw Magnesium Production in July] In June, the magnesium market experienced increased volume and lower prices. The average monthly price of 99.90% magnesium ingot in major producing areas was 16,197.5 yuan/mt, down 5.40% MoM from the previous month. Raw magnesium production increased by 6.63% MoM from the previous month. The market pattern of strong supply and weak demand resulted in weak support for magnesium prices, showing a price trend of falling first and then stabilizing.