BC Magnesium Project Faces Opposition Despite Approval, Threatens Tourism and Health

[SMM Titanium Spot Express: Inventory Pressure Weakens Demand, Titanium Dioxide Price Changes Limited] Quotes for rutile, anatase, and chloride-process titanium dioxide remained flat WoW. Enterprise inventory stayed at mid-to-high levels, with a focus on price stability and destocking. The September peak season has been slow to materialize, with downstream buyers only restocking on rigid demand and showing insufficient willingness to stockpile. Costs and supply contraction provided a floor underneath, but demand showed no significant release, leaving the market stuck between gains and losses. In the short term, the market is expected to remain in a stagnant consolidation.

[Smelters Hold Prices Firm but Deals Cool, Domestic and Overseas Markets Diverge] Today, magnesium ingot offers in Fugu varied by grade. Domestic smelters held prices firm, but high-price deals met resistance, with downstream buyers making only just-in-time procurement. Pullbacks in coal and ferrosilicon weakened cost support, and bearish sentiment in the market intensified. FOB offers in the overseas market rose in line with domestic ex-works prices. However, clients outside China remained cautious in taking orders, and high inventory levels left elevated offers lacking support from actual transactions. Overall, the market is caught in a tug-of-war between smelters holding prices firm and weak demand both domestically and overseas. In the short term, magnesium ingot prices are expected to move sideways.