[SMM Magnesium Weekly Review: Upstream Stable, Midstream Under Pressure, Potential Demand Inflection Point After Policy Window Period] This week, the magnesium industry chain generally exhibited a generally stable with slight fall trend. The price of upstream dolomite remained stable, but due to the implementation of the tender model and expectations of a rebound in primary magnesium production, there is a possibility of an upward trend in the future. The magnesium ingot market first strengthened and then weakened, with quotes in the main production areas pulling back from 17,400-17,500 yuan/mt to 17,250-17,350 yuan/mt. The overseas FOB price also decreased synchronously to $2,380-$2,430/mt. Magnesium powder prices slightly declined, with supply increasing due to the impact of the export policy window period. Magnesium alloy prices remained high and consolidated, with short-term supply-demand balance but gradual emergence of new demand. Overall, the market showed characteristics of "stable upstream, weak midstream, and waiting downstream," with wait-and-see sentiment dominating market transactions.

[SMM Magnesium Morning Meeting Summary: Magnesium Prices Under Pressure, Trading Sluggish, Magnesium Market in the Doldrums] Recently, magnesium prices have continued to face pressure, with sluggish market trading. Due to the relatively scattered overall trading, it is difficult to form a concentrated purchasing force, resulting in a lack of upward momentum for magnesium prices. Overall, it is expected that magnesium prices will maintain a weak operation pattern in the short term.

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.