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.

[Тунгстен Флэш] 24 июня компания «Тиешаньлун Вольфрам» собрала ответственных сотрудников профильных подразделений, строительной организации и надзорного органа для проведения координационного совещания по первому этапу проекта расширения производственной мощности на 396 000 тонн на участке шахты Шанпин. На совещании были всесторонне обсуждены различные подготовительные мероприятия до начала строительства, с особым акцентом на координацию таких ключевых вопросов, как регистрация подрядчика, передача проектной документации, мобилизация оборудования и обучение персонала. В дальнейшем компания будет неукоснительно следовать договорённостям, достигнутым на совещании, взаимодействовать со всеми сторонами для поэтапного выполнения поставленных задач в установленные сроки и стремиться начать строительство проекта в кратчайшие сроки.

[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.