[SMM Magnesium Morning Meeting Minutes: Raw Material Cost Support Bolsters Price Firmness Across Multiple Magnesium Varieties, Pre-Holiday Wait-and-See Sentiment Prevails with Magnesium Ingot and Powder Trading Rangebound] On September 19, the price of dolomite, a raw material for magnesium, remained stable, while ferrosilicon futures rose slightly. The recovery in spot steel tendering demand supported prices to fluctuate rangebound. Magnesium ingot quotations increased driven by rising raw material costs, but low-priced sources still existed in the market. Under the supply-strength-demand-weakness pattern, sustained momentum to refuse to budge on prices was insufficient, and export wait-and-see sentiment was strong. Magnesium alloy enterprises had good order schedules and tight spot supply, with processing fees raised, but downstream acceptance of high prices was low. The upward trend in magnesium powder prices paused, with general transaction activity focused on executing previous orders, while new overseas orders were limited. The magnesium market is expected to continue fluctuating rangebound overall in the short term, with slow follow-up in transactions ahead of the holiday.

[SMM Magnesium Weekly: Magnesium Market in a Tug-of-War Between Supply and Demand, with Prices and Industry Chain Products Exhibiting a Fluctuating Trend] This week, the performance of products related to the magnesium industry chain was influenced by both supply and demand, showing different trends. For dolomite, although leading mines resumed production, previous maintenance kept inventory at low levels. Meanwhile, the increase in operating rates of magnesium plants in major production areas drove up consumption, leading to a slight price increase supported by demand. In the magnesium ingot market, the tug-of-war between sellers and buyers intensified. In major production areas, demand was sluggish due to the post-delivery impact of last week's foreign trade orders. However, rising prices of raw materials such as dolomite bolstered magnesium plants' reluctance to sell, keeping prices firm in the short term due to cost support. In the long run, prices may trend downward due to strong supply and weak demand. At the Tianjin Port FOB market, the wait-and-see sentiment was strong. Early spot orders saw active transactions, but the quotation range expanded later. With the National Day holiday approaching and the US dollar weakening, traders adopted a cautious stance toward October shipments, and price trends will need to be verified after the holiday based on shipment conditions. In the magnesium powder market, supply-side production increased slightly, with manufacturers mostly fulfilling previous orders. After a brief pre-holiday stockpiling demand emerged, downstream and overseas buyers turned to a wait-and-see approach due to rising prices, resulting in mediocre transactions. Prices edged up slightly with cost support but remained rangebound and stagnant. Magnesium alloy prices fluctuated in line with magnesium ingots. On the supply side, manufacturers scheduled production based on orders, with spot supply tight and some orders scheduled for next month. Operating rates increased with order volumes. On the demand side, sectors such as NEVs saw rising demand, but downstream die-casting plants exhibited fear of high prices, and transactions at high prices remained to be followed up.

[SMM Domestic Analysis: Frequent Fluctuations in Magnesium Metal Raw Material Prices, Magnesium Prices Fluctuate Rangebound—What Is the Impact on Magnesium Prices?] After nearly half a month of tug-of-war between sellers and buyers in the magnesium market, the future trend has been determined, with the supply-demand balance tilting once again toward downstream buyers. Recently, magnesium prices have shown a slow downward trend. As of the time of writing, the price of 99.90% magnesium ingot in the main production areas has fallen below the 16,000 yuan/mt mark, with mainstream quotations from magnesium producers ranging around 16,650-16,750 yuan/mt. However, considering that although producer's inventory has increased, it remains at a multi-year low, has the downward channel for magnesium prices already opened?

[SMM Magnesium Morning Meeting Summary: Strong Sentiment for Price Increases, Magnesium Prices Held Firm Today] Yesterday, mainstream quotations from magnesium plants stood at 16,800 yuan/mt. Influenced by rising raw material prices such as ferrosilicon, coal, and dolomite, magnesium prices bottomed out.

[smm magnesium morning meeting summary: cost-driven magnesium market holds up well pre-holiday stockpiling boosts downstream demand] on september 17, the price of dolomite, a raw material for magnesium, significantly increased, and ferrosilicon held up well due to support from steel procurement, pushing up the smelting cost of magnesium. magnesium ingot prices slightly decreased but transactions were good, with producers showing a stronger reluctance to budge on prices, and it is expected that under the support of costs, the market will maintain a strong hold. alloy enterprises faced tight spot supply of magnesium due to end-use demand, leading to an increase in processing fees, but the downstream was cautious about accepting high prices. the magnesium powder market saw active pre-holiday stockpiling, with supply increasing, and prices are expected to remain stable. overall, the market exhibited characteristics of both cost-driven and divergent demand.

[SMM Spot Magnesium Ingot Quick Report: Magnesium Ingot Quotes Slightly Lowered Today, Cost Support Strengthens, Market Expects Firm Prices in the Future] On September 16, magnesium ingot ex-factory quotes in the Fugu region were 16,600-16,700 yuan/mt, a slight decrease of 50 yuan/mt compared to the previous day, with FOB prices at $2,390/mt. Market transactions were generally good, and magnesium producers showed increased willingness to raise prices in the afternoon. Due to the rise in dolomite raw material prices, cost support has strengthened. Magnesium prices are expected to continue their firm trend this week, with the market showing a stalemate with a slight upward bias.

[SMM Survey: US Producer Bankruptcy Triggers Supply Chain Risks, China and Europe Compete to Develop New Magnesium Alloy and Magnesium Battery Tracks] Recently, US Magnesium, the only primary magnesium producer in the United States, filed for bankruptcy due to environmental disputes, which may increase the US's reliance on magnesium imports from China and Russia, raising concerns about national security and supply chains. Meanwhile, China's Yimeitai exported its first complete set of high-end magnesium alloy equipment to South Korea, achieving a reverse transfer of technology and highlighting China's leading advantage in the application of magnesium alloys. The European Union has launched the HighMag project, collaborating with multiple countries on R&D for magnesium battery technology to compete for dominance in next-generation ESS solutions. The global magnesium industry is facing multiple challenges involving environmental protection, supply chains, and technological innovation, further clarifying the competitive landscape among China, the US, and Europe in strategic resources and key technology areas.

[smm magnesium morning meeting summary: magnesium ingot under pressure, magnesium alloy processing fees may remain firm] on september 15, the overall operation of the magnesium market was stable, with dolomite and ferrosilicon prices holding steady and ample supply. magnesium ingot prices continued to decline, with mainstream quotations falling to 16,600-16,700 yuan/mt. market transactions were active, but supply and demand remained in a state of contention. magnesium alloy prices weakened slightly due to the drag from magnesium ingot, however, robust demand from the downstream new energy sector is expected to keep processing fees firm. the trading atmosphere in the magnesium powder market recovered, with procurement demand resuming, but prices remained under pressure due to declining raw material costs. overall, a structural contradiction emerged between the release of downstream demand in the magnesium industry chain and the weakness in raw materials.

[SMM Spot Magnesium Ingot Market Update: Fugu Magnesium Ingot Prices Adjusted Downward Under Pressure, Domestic and Foreign Trade Markets Show "Hot Domestic, Cold Foreign" Pattern] On September 12, the ex-factory offer for magnesium ingots in the Fugu region was lowered by 100 yuan/mt to 16,600-16,700 yuan/mt, with the FOB offer at $2,370/mt. Market trading was active, with some magnesium plants selling at low prices of 16,500 yuan/mt, attracting active purchases from traders. The single-day trading volume reached 1,600 mt. The foreign trade market showed a stalemate, with 80% of traders refusing new orders and insisting on high prices including taxes. However, a small number of shipping orders were still concluded at low prices today, highlighting the ongoing tug-of-war between sellers and buyers.

After nearly half a month of a tug-of-war between sellers and buyers in the magnesium market, the future trend has been determined, with the supply-demand balance tilting once again toward downstream buyers. Recently, magnesium prices have shown a slow downward trend. As of the time of writing, the price of 99.90% magnesium ingot in the main production areas has fallen below the 17,000 yuan/mt mark, with mainstream quotations from magnesium plants ranging around 16,800-16,900 yuan/mt. However, considering that although magnesium plant inventories have increased, they remain at a multi-year low, has the downward channel for magnesium prices already opened?