[SMM Magnesium Morning Meeting Minutes: Weak Market Demand, Magnesium Prices Under Pressure] Today, ex-factory prices for 99.90% magnesium ingots in major production areas showed a downward trend. Supply side, most primary magnesium smelters experienced varying degrees of inventory buildup during the National Day holiday, leading to increased inventory pressure on the production side, with some manufacturers stimulating transactions through lower prices.

[SMM Survey: Magnesium Industry Enters a Period of Transformation Driven by Technological Breakthroughs and Regulatory Policies] Recent significant progress has been made in the global magnesium industry. In terms of scientific research, a Japanese team has successfully developed a new-type solid electrolyte, which reduces the operating temperature of magnesium-based hydrogen storage from above 300 degrees Celsius to 90 degrees Celsius, with hydrogen storage capacity approaching the theoretical limit, bringing breakthroughs in areas such as hydrogen energy storage. On the regulatory front, China implemented new customs declaration rules starting October 1, requiring export enterprises to fully report the actual client information, thereby strengthening the supervision of magnesium product exports and significantly narrowing the scope for traditional "purchasing" practices. Meanwhile, in the US, a magnesium company’s bankruptcy filing has led to a postponement of the Great Salt Lake lease hearing, drawing attention to its environmental governance challenges and business transformation difficulties, reflecting the industry’s struggle to balance environmental compliance with operational pressures.

[SMM Magnesium Weekly Review: Supply-Demand Weakness Persists, Prices Under Pressure and Fluctuate Downward] Post-holiday, the magnesium market overall exhibited a pattern of weak supply and demand. On the raw material side, the price of dolomite remained stable, maintaining a tight balance. Magnesium ingot quotations in major production areas fell to 16,400-16,500 yuan/mt, with supply increasing and demand remaining sluggish, compounded by the impact of tightening export policies, FOB quotations pulled back to $2,380-2,420/mt. Magnesium powder saw active stockpiling before the holiday, but post-holiday expectations weakened, and prices operated under pressure. Magnesium alloys, supported by automotive demand, showed relative resilience but were dragged down by primary magnesium prices, resulting in overall fluctuations. In the short term, various segments of the industry chain are expected to remain in the doldrums, and a price rebound will depend on a substantial recovery in demand.

[SMM Magnesium Morning Meeting Minutes: Magnesium Producers Show Flexibility on Prices with Low-Priced Supplies Available, Magnesium Prices in the Doldrums] Magnesium prices remained under pressure today, with sluggish market transactions leading to a slight increase in producers' inventory. Under these circumstances, some magnesium producers showed flexibility in their reluctance to budge on prices, and low-priced supplies emerged in the market this morning, with transaction prices ranging from 16,600 to 16,500 yuan per mt.

[SMM Magnesium Morning Session Summary: Magnesium Market Diverged Ahead of Holiday, Raw Materials Held Steady While Magnesium Ingot Under Pressure] On September 29, the magnesium raw material market remained generally stable. Dolomite prices held firm supported by rigid demand, while 75 ferrosilicon prices rose to 6,100–6,200 yuan/mt due to tight spot supply. The rebound in profits may lead to a slight increase in subsequent production. The magnesium ingot market continued to weaken, with Fugu offers falling to 16,600–16,700 yuan/mt. Both domestic and export demand remained mediocre, transactions were sluggish, and market wait-and-see sentiment was strong. Magnesium alloys maintained a relatively strong trend, with low spot inventory prompting manufacturers to schedule production and raise processing fees. The undersupply situation is expected to persist in the short term. For magnesium powder, active transactions last week drove a surge in domestic trade procurement. However, as pre-holiday stockpiling was completed, downstream buyers shifted to a wait-and-see stance. Export orders showed no significant increase, and trading activity slowed down.

Recently, the magnesium market has frequently received news of rising prices of raw materials such as ferrosilicon, coal, and dolomite. Affected by this, magnesium plants in major producing areas have become increasingly reluctant to sell, with magnesium prices steadily rising. So, what is the impact of the abnormal price movements of raw materials on magnesium?

Recently, the domestic magnesium alloy industry has achieved multiple breakthroughs in technological innovation, production capacity implementation, and regional layout, emerging as a key driving force for the lightweight transformation of industries such as automotive.

[SMM Magnesium Morning Meeting Minutes: Tepid Domestic and International Demand Suppresses Trading, Magnesium Prices Face Resistance Despite Firm Highs] Yesterday, domestic magnesium producers continued to hold firm on their offers, with most maintaining prices at 16,700 yuan/mt. However, actual market transactions were weak, with relatively limited trading volume, and some manufacturers conducted sales promotions at lower prices of 16,650 yuan/mt.

[SMM Magnesium Weekly Review: Tight Balance in Raw Materials Coupled with Surging Demand Makes Magnesium Alloy a Highlight in the Industry Chain] This week, various segments of the magnesium industry chain showed divergent trends. The price of upstream dolomite held up well, with supply and demand in a tight balance, providing support for future raw material costs. In major production areas, magnesium ingot prices fluctuated rangebound, as supply and demand remained at a stalemate. Although short-term supply remained stable, expectations of capacity recovery in the later period brought supply pressure, prompting some producers to sell at low inventory levels.

[SMM Domestic Analysis: Magnesium Alloy Industry Accelerates Implementation: Enterprise Breakthroughs and Urban Layout Jointly Outline the Blueprint for Lightweight Development] Recently, the domestic magnesium alloy industry has seen multiple breakthroughs in technological advancements, capacity implementation, and regional layout, becoming a significant force driving the lightweight transformation of industries such as automotive.