[SMM Magnesium Ingot Spot Update: Weak Magnesium Market Struggles to Rise Due to Sluggish Demand] SMM reported on August 25 that the magnesium market started the week with a weak and stable performance. Although supply-side pressures gradually emerged, the demand side failed to provide effective support. Overseas orders were "all talk and no action," while domestic consumption remained sluggish. Against the backdrop of a weakening supply-demand structure, magnesium prices lacked upward momentum and were expected to continue under pressure, operating around 17,200 yuan/mt in the short term.

[smm magnesium morning meeting summary: rebound driven by improved downstream purchasing sentiment, full production and inventory surplus at supply end pose constraints] last week, magnesium prices showed a trend of first weakening then strengthening. during the first half of the week, magnesium plants' quotations were only slightly firm on monday, and subsequently, under the influence of bargain down purchasing prices from downstream, the market transaction prices showed a downward trend. by wednesday, the mainstream transaction prices in the magnesium market were at 17,100-17,200 yuan/mt. some traders entered the market for procurement, coupled with the association's call for magnesium plants to maintain prices mid-week, leading to a growing reluctance to budge on prices among magnesium plants. thus, this round of price reduction cycle came to a temporary halt.

[MM Magnesium Morning Meeting Summary: Magnesium Prices End Downward Cycle, Tug-of-War Between Sellers and Buyers Continues] Yesterday, the magnesium market showed a divergent trend. The price of Fugu magnesium ingots was 17,250-17,350 yuan/mt (↑100), with FOB prices at $2,380-2,430/mt. Raw material dolomite prices remained stable, while ferrosilicon slightly declined; the magnesium ingot market ended its downward cycle, bottoming out due to support from traders' deliveries, but inventory pressure still exists; demand for magnesium alloys surged under the new national standard policy for EVs, with processing fees remaining firm; magnesium powder exports performed well, with some August orders released in advance. The current market is still in a tug-of-war between sellers and buyers, and it is expected that prices will maintain a fluctuating trend in the short term, with foreign trade deliveries at month-end potentially providing some support.

[This Week's SMM Magnesium Review: Tug-of-War Between Sellers and Buyers Dominates the Market, Magnesium Industry Chain Shows Weakness Followed by Strength] This week, the magnesium industry chain as a whole showed a trend of weakness followed by strength. The price of upstream dolomite remained stable, with steady supply this week, and the resumption of production at magnesium plants is expected to drive demand growth, leading to firm prices. In the main producing areas, magnesium ingot prices first weakened then strengthened; currently, there is a tug-of-war between sellers and buyers, making it difficult for prices to rise or fall next week. The FOB price at Tianjin Port rose slightly mid-week, supported by policy expectations and domestic refusal to budge on prices, and may adjust along with ex-factory prices in the future. Magnesium powder prices saw a slight decrease, with procurement slowing down but production and exports improving. Magnesium alloy prices are consolidating at high levels, with EV demand driving an increase in its demand and low inventory levels, leading to a forecast of fluctuating rangebound.

[smm magnesium morning meeting summary: magnesium plants' reluctance to budge on prices + urgent procurement demand, magnesium market sees both volume and price increase] on august 21, the smm magnesium morning meeting showed that the magnesium market recovered yesterday. in the afternoon, the reluctance to budge on prices among magnesium plants was restored, with some buyers transacting at 17,200-17,300 yuan, resulting in a considerable trading volume. due to approaching shipping schedules, there is an urgent need for procurement, and it is expected that magnesium prices will see a slight upward trend.

Chinese July Magnesium Exports: Volume Boosted by Orders as Market Focus Broadens[SMM Analysis] In July 2025, China magnesium exports reached 36,600 tonnes, up 3.1% MOM and 6.4% YOY. Magnesium ingot exports rose 11.4% YOY to 21,600 tonnes, accounting for 59% of total exports, though cumulative exports fell 7.9%. Magnesium powder shipments grew 10.7% monthly, while alloy exports declined 4.1%. Regionally, exports to key European hubs fell sharply to 4,400 tonnes, while India held steady with monthly average exports of 2,400 tonnes, highlighting a ongoing eastward shift in export focus.

[smm magnesium morning meeting summary: raw material prices diverge, downstream purchases generally on hold] on august 20, the magnesium raw material market showed varied performance: dolomite, driven by resumed production, saw increased demand and firm prices; ferrosilicon futures fell sharply, with the spot market showing weak consolidation. magnesium ingot prices slightly decreased, with fugu quotes at 17,200-17,300 yuan/mt, and fob quotes at $2,380-2,420/mt. overseas tender season orders were clearly divided, with higher quotes after october. magnesium alloy and magnesium powder prices both moved in tandem with raw materials, overall presenting a "weak supply and demand" situation. downstream enterprises mostly adopted a cautious wait-and-see approach, restocking as needed, while the market awaited further recovery to boost demand.

[smm magnesium ingot spot update: magnesium ingot prices slightly decrease, fob prices diverge during overseas tender season] on august 19, the ex-works quotation for magnesium ingots in fugu area decreased by 50 yuan to 17,200-17,300 yuan/mt, with an average price of 17,250 yuan/mt; fob quotations remained stable at $2,400/mt. currently, magnesium prices are in the doldrums, and the tug-of-war between sellers and buyers continues. downstream demand is below expectations, and producers' resolve to refuse to budge on prices has weakened. the overseas market has entered a high-frequency tender period, and fob quotations have diverged. quotations for orders after october are cautiously high, while spot or short-term delivery orders are transacted within the range of $2,380-2,400/mt.

[SMM Survey: Technological Breakthroughs and Environmental Controversies Coexist, Magnesium By-Product Projects Pave New Paths] This week, the magnesium industry showed multiple dynamics: a research team successfully developed self-healing hydrophobic coating technology, significantly improving the corrosion resistance of magnesium alloy AZ31B, clearing obstacles for aerospace applications; Utah in the US proposed to terminate the operating rights of US Magnesium due to environmental disputes, highlighting the challenges of sustainable industrial development; Canada's Canpotex was actively promoting a potassium-magnesium by-product project, entering the green material supply chain through the development of polyhalite resources. Technological breakthroughs, environmental controversies, and strategic layouts together outlined a new landscape for the global magnesium industry.

[smm magnesium morning meeting summary: magnesium prices under pressure, market transactions sluggish] the smm magnesium morning meeting on august 19 showed that the price of dolomite, a raw material for magnesium, was stable with ample supply, and demand increased as magnesium plants resumed production; ferrosilicon prices were stable both in futures and spot markets. magnesium ingot prices slightly decreased, with a supply-demand balance but weakened due to high price aversion from buyers. magnesium alloy prices were high, with both supply and demand being weak and fluctuating along with magnesium ingots. magnesium powder purchases slowed down, with downstream players waiting and hoping for price adjustments, leading to a market characterized by "increased supply, waiting demand" dynamics.