China Weekly Inventory Summary and Data Wrap (May 6)

[SMM Silicone Weekly Review: Persistent Price Competition and Concessions by Upstream Silicone Enterprises to Offload Inventory Intensified Further Bearish Expectations Among Midstream and Downstream Clients] This week, China’s silicone DMC transaction prices lost ground again and plunged sharply, with the transaction price range at 12,800-13,000 yuan/mt and the average price at 12,900 yuan/mt, down 1,100 yuan/mt WoW.

[Boletim de Tungstênio] Em 24 de junho, a Companhia de Tungstênio Tieshanlong convocou pessoal relevante de departamentos relacionados, a unidade de construção e a unidade de fiscalização para realizar uma reunião de coordenação da primeira fase do projeto de expansão de 396 mil toneladas métricas na área da mina Shangping. A reunião realizou discussões aprofundadas sobre diversos trabalhos preparatórios antes da construção, com foco na coordenação de aspectos-chave como o registro da unidade construtora, a entrega dos desenhos de construção, a mobilização de equipamentos e o treinamento de pessoal. Daqui para frente, a empresa cumprirá rigorosamente os acordos da reunião, coordenará e cooperará com todas as partes para avançar cada tarefa de acordo com os prazos programados, e se esforçará para iniciar a construção do projeto o mais rápido possível.

[SMM Magnesium Weekly Review: Entire Magnesium Industry Chain Weakens; Supply-Demand Weakness Keeps Market Under Pressure] This week, China's magnesium industry chain was in the doldrums across the board. Dolomite prices in Wutai, Shanxi, remained flat. Regional supply tightened, but national supply was ample, and only just-in-time procurement was insufficient to drive prices higher. Fugu and Shenmu 9990 magnesium ingot mainstream prices were 15,750-15,850 yuan/mt, down 200 yuan on the week. High in-factory inventory prompted producers to sell at lower margins, while downstream buyers stayed on the sidelines, making only small restocking purchases, resulting in slow destocking. The average FOB price of magnesium ingot at Tianjin port was $2,275/mt. Overseas demand was sluggish due to the summer break, foreign buyers pushed for lower prices, and new orders were scarce. Falling raw material prices dragged down magnesium powder and magnesium alloy prices. Small and medium-sized magnesium alloy plants cut production, but earlier stockpiles were ample. Two-wheeler demand weakened, putting processing fees under pressure. Both upstream and downstream demand softened simultaneously, and cost support was insufficient. In the short term, the entire magnesium product range is expected to remain in the doldrums.