Hefei Qixing Invests $453M in 50,000-Ton Magnesium Alloy Ingot Project in Anhui

[Cost support keeps magnesium ingot trading stagnant] Magnesium ingot prices in China are stable, with producers holding prices firm but facing supply pressure and high inventory. Domestic downstream rigid demand adopts a wait-and-see approach, while foreign trade exports are weak. Costs form a bottom-line support. Under the tug-of-war between supply and demand, the short-term market may maintain a weak and narrow sideways movement.

[Magnesium Market Quotations Diverged, Trading Weak, Prices Expected to Remain Under Pressure] Today, the main production areas for 99.90% magnesium ingot quoted at 15,800-15,900 yuan/mt, basically flat from earlier quotes.

[SMM Magnesium Express]According to a report by China News Service, Qingyang County in Anhui Province is leveraging its dolomite resources to accelerate the development of a "World Magnesium Capital". In the first half of the year, the output value of the entire magnesium-aluminum light alloy industry chain reached 2.59 billion yuan, marking a year-on-year increase of 61.3%. The annual output value is expected to exceed 5 billion yuan. Anhui Baomai's 100,000-ton production line has been put into full-process mass production, with a total planned production capacity of 300,000 tons, accounting for about one-quarter of the country's total. The only magnesium water direct supply short-process industrial park in China has been completed and put into use. With the continuous acceleration of industrial agglomeration and technological transformation, Qingyang is expected to become an important production base for magnesium-based new materials in the country.