Latrobe Magnesium's First Phase Plant in Australia 33% Complete, Aiming for 2026 Production Launch

[SMM Magnesium Market Analysis: Magnesium Market Walked a Symmetric Consolidation Pattern in H1 2026, Weakening After the Fade of the Boom – Where Is the Bottom of Magnesium Prices?] Looking back at the Chinese magnesium market in H1 2026, affected by concentrated production halts at magnesium smelters earlier, the pattern of strong supply and weak demand quietly reversed. Tight spot supply and low inventory provided a good foundation for phased rises in the fundamentals of the magnesium ingot market. Coupled with news-driven disturbances such as surging demand for magnesium alloys, speculative demand suddenly emerged, and market procurement enthusiasm soared. In Q1, magnesium prices showed a stair-step increase. Overly high expectations boosted smelters' production enthusiasm, and magnesium smelter output rose continuously. By June 2026, China's primary magnesium production had reached 110,000 mt. The continuous increase in output added to the sales pressure on magnesium smelters. With both inventory and output rising, magnesium prices showed a stair-step decline in Q2. Overall, magnesium prices presented an inverted V-shaped trend in H1.

[SMM Magnesium Express]Recently, Yian Technology announced that the clinical trial of its biodegradable magnesium interface screw has made significant progress. This product is used for anterior cruciate ligament reconstruction of the knee joint. As of now, a total of 124 cases have been enrolled, accounting for 95.4% of the planned total sample size. Among them, 57 subjects have completed one-year follow-up after surgery, and the fixation effect is stable. The overall trial results are in line with expectations. After obtaining the clinical trial summary report, the company will submit a registration application to the National Medical Products Administration. After the product is launched, it is expected to fill the domestic application gap of biodegradable metal orthopedic implant consumables and promote the upgrading of orthopedic diagnosis and treatment plans.

[SMM Magnesium Express]This week, social inventories increased by 1.83% month-on-month, showing a slight accumulation trend overall. Regional inventory disparities were pronounced: in Shaanxi, traders actively settled orders, leading to a minor inventory drawdown; in Shanxi's production area, new supplies flowed into warehouses. Meanwhile, export orders at Tianjin Port were sluggish, hindering external sales and resulting in inventory buildup in both regions, ultimately driving a modest rise in social inventories. Currently, downstream end-user procurement remains limited, and circulation supplies are digesting slowly, with inventory pressure likely to continue suppressing the rebound space for magnesium prices.