Anhui Baomai Establishes National Postdoctoral Research Station for Magnesium Innovation

【SMM Magnesium Flash】On September 15th, Latrobe Magnesium of Australia announced a strategic shift, prioritizing the advancement of a project with an annual production capacity of 50,000 tons of primary magnesium metal in South Carolina, USA. The company has secured a total of 32,000 tons/year of intended demand letters and has identified a site with supporting port logistics. The project utilizes nickel-iron slag as raw material and has signed a 20-year memorandum of understanding with Société Le Nickel, ensuring raw material supply for approximately 60 years of operation. The estimated capital expenditure for the project is between $1.1 billion and $1.5 billion. It is planned to initiate a feasibility study in the first quarter of 2027 and commence production in April 2030. This move is expected to fill the supply gap of primary magnesium in North America and contribute to the self-sufficiency of key minerals in the United States.

[Improving marginal transactions, magnesium ingot consolidates in the short term] Today, China's magnesium ingot offers held steady at 15,800 yuan/mt. Some traders entered the market to stockpile, driving a slight recovery in transactions and easing bearish sentiment. The subsequent market trend will still depend on the follow-through strength of restocking orders, with the short-term market maintaining a fluctuating trend.

[Both Domestic and Overseas Markets Under Pressure, Magnesium Ingot Moves Sideways in the Short Term] Today, magnesium ingot quotes in Fugu continued to decline. The magnesium ingot market in China and overseas is under pressure simultaneously. The market is waiting for stockpiling to be released from mid-to-late September to before the National Day holiday. In the short term, prices are likely to move sideways.