As August progresses halfway through, magnesium prices have been consolidating at a high level. Half of the market traders are taking a short-term break to adjust their market operation rhythms, leaving the magnesium market "silent." However, beneath the calm market atmosphere, there are undercurrents in the magnesium ingot market. Can the magnesium market maintain its current situation and continue to surge ahead in August?

[SMM Magnesium Morning Meeting Summary: Raw Material Prices Steady, Magnesium Prices Adjusted Slightly, Strong Wait-and-See Sentiment in the Market] SMM reported on August 14 that on the raw material side, dolomite prices remained stable with ample market supply, but demand increased as magnesium producers resumed production. The most-traded contract of ferrosilicon futures fell by 1.02%, and in the spot market, some producers faced tight supply, showing strong reluctance to budge on prices, leading to a stalemate in overall supply and demand. For magnesium ingots, the mainstream quotations in the Fugu area slightly decreased to 17,300-17,400 yuan/mt. Producer inventories remained low, with insufficient downstream demand support. Overseas orders were expected to be released after the summer break, and the FOB quotation range narrowed to $2,420-2,430/mt. Magnesium alloy prices remained high and stable, with supply slightly reduced due to producer maintenance. Downstream just-in-time procurement dominated, and the market showed weak supply and demand. After the initial release of demand, the magnesium powder market entered a wait-and-see phase, but overseas orders continued to support steady production growth, with FOB quotations at $2,530-2,590/mt. Overall, all segments of the magnesium market showed a stalemate with different characteristics, and short-term prices may continue to fluctuate.

[SMM Domestic Analysis: Mixed Bullish and Bearish News, Tug-of-War Between Sellers and Buyers Makes It Hard to Determine the Winner - How Will the Magnesium Market Perform in the Future?] As August approaches its halfway point, magnesium prices have been consolidating at a high level. Half of the traders in the market have temporarily adjusted their operational rhythms for short-term rest and adjustment. The magnesium market is "quiet as a mouse," but beneath the calm surface, there are undercurrents in the magnesium ingot market. Can the magnesium market maintain its current situation and continue to surge ahead in August?

[SMM Magnesium Morning Meeting Summary: The Game Pattern Remains Unchanged, Magnesium Prices Consolidate at High Levels Today] The magnesium market maintained a firm operation at high levels. The shutdown of magnesium plants for maintenance, coupled with low inventory levels, led to a tight spot supply in the market, with significant bottom support. Domestic trade demand from aluminum plants and alloy plants for restocking on a just-in-time basis, but overall transactions were relatively scattered, with insufficient upward momentum in prices. Magnesium prices consolidated at high levels.

[SMM survey: Breakthrough in 3D twinning research of magnesium alloy, magnesium market demand released ahead of schedule, wait-and-see sentiment intensifies] This week, in terms of technology, researchers from the University of Michigan in the US captured, for the first time, a 3D view of the formation of "deformation twins" in lightweight magnesium alloys using X-ray technology. This achievement is expected to optimize the performance of magnesium alloys and promote their application in fields such as the automotive industry, which is of great significance for improving fuel efficiency. Meanwhile, the Hoa Phat Group in Vietnam produced the first batch of zinc-aluminum-magnesium alloy coated steel coils at its Nghe An factory, marking a technological breakthrough in coated steel production in the country. On the market front, magnesium powder demand stood out last week, driving active trading. Production site inventory of primary magnesium declined, while social inventory of magnesium ingots increased. Overseas demand remained weak. Affected by factors such as the increase in ex-factory prices, the approaching summer break in Japan and South Korea, and price inversion, market participants adopted a cautious wait-and-see attitude.

[SMM Magnesium Morning Meeting Summary: Supply and demand in a stalemate, magnesium prices stabilize at highs today] The current magnesium price continues to stabilize at highs: spot quotations from magnesium ingot factories in the Fugu area remain firm at 17,400 yuan/mt; the mainstream quotation range for FOB Tianjin Port is $2,410-$2,420/mt. It is expected that magnesium prices will continue to maintain a high-level consolidation pattern this week.

[SMM Magnesium Ingot Spot Bulletin: SMM reported on August 11 that today, the factory ex-works quotations for magnesium ingots in the Fugu region remained stable at 17,300-17,400 yuan/mt, with an average price of 17,350 yuan/mt, unchanged from the previous trading day; the FOB quotation remained at $2,410/mt. Currently, magnesium prices continue to stabilize at highs: the spot quotations for magnesium ingots from factories in the Fugu region remained firm at 17,400 yuan/mt; the mainstream FOB quotations at Tianjin Port ranged from $2,410 to $2,420/mt. In terms of supply, the weekly production of producers decreased by 5.9% MoM, the industry operating rate remained at around 54%, and inventory levels decreased by 10.6% MoM. Demand side, affected by the summer break, overseas downstream procurement inquiries remained sluggish.

[SMM Magnesium Morning Meeting Summary: Supply and Demand in a Stalemate, Magnesium Prices Remain High and Stable] Last week, domestic magnesium prices showed a trend of initial stability followed by an increase, primarily driven by the concentrated release of overseas orders. The trading atmosphere in the magnesium powder market significantly heated up, leading to a continuous rise in magnesium prices.

[SMM Magnesium Weekly Review: Transaction Follow-up, Magnesium Prices Fluctuate Upward This Week] This week, the domestic magnesium industry chain has shown a fluctuating upward trend. Domestic magnesium prices stabilized initially and then rose. Supported by low inventory levels at the beginning of the week, magnesium plants had a strong reluctance to budge on prices, keeping prices firm at 17,100-17,200 yuan/mt. Due to end-users driving down prices, transactions were mediocre in the first half of the week. Later, with a small amount of downstream transactions and the release of magnesium powder orders, magnesium prices climbed to 17,300-17,400 yuan/mt, with a cumulative increase of 250 yuan/mt this week. The overseas magnesium ingot market saw sluggish trading, with quotes at $2,420-$2,450/mt. Affected by the summer break in Japan and South Korea and inverted prices, transactions were weak. The magnesium powder market saw increased trading activity as overseas buyers stockpiled before the new tariff policy took effect, but downstream acceptance of high-priced goods was limited. Magnesium alloy prices followed the upward trend of magnesium ingots, while processing fees remained low for a long time due to fierce competition, approaching the cost line with strong bottom support. Demand was mainly driven by just-in-time procurement, and prices are expected to remain firm in the future. This week, dolomite prices stabilized, with supply-demand balance. Considering that demand stabilized due to magnesium plants' production resumptions, prices are expected to remain stable.

[SMM Magnesium Morning Meeting Summary: Magnesium Prices Rise Slightly, Strong Demand in Magnesium Powder Market] Yesterday, the magnesium market generally showed a generally stable with slight rise trend. The price of dolomite, a raw material, remained stable with sufficient supply. However, demand rebounded as magnesium plants resumed production, and it is expected that prices will remain firm in the future. Ferrosilicon futures fell by 1.22%, but spot supply was tight, with strong price support at the bottom, and it may fluctuate rangebound in the short term. For magnesium ingots, the quoted price in the Fugu area increased to 17,250 yuan/mt. Low inventory supported manufacturers in refusing to budge on prices, and transactions recovered to some extent. However, the buying and selling game in the overseas FOB market intensified, with quoted prices narrowing slightly to $2,380-$2,390/mt. Magnesium alloy prices fluctuated with raw materials, but due to the low processing fee and the inverted price spread between aluminum and magnesium, profits were under pressure. It is expected that prices will remain firm in the short term. Magnesium powder demand was strong, with increased transaction volumes driving enterprise procurement. Prices remained high, with FOB quoted prices at $2,510-$2,580/mt. Overall, magnesium ingots and magnesium powder have strong support, while ferrosilicon and magnesium alloys may continue to fluctuate.