China's Magnesium Exports Rise 10.9% Year-on-Year in June 2026

In June, China's total magnesium product exports reached 39,400 mt, up 4.8% MoM and 10.9% YoY. Of this, magnesium ingot exports were 22,700 mt, down 5.5% MoM, mainly dragged down by the traditional off-season demand in and outside China. In contrast, magnesium powder and magnesium alloy exports performed strongly, up 21.2% and 33.2% MoM respectively, driven by periodic restocking, downstream stockpiling in advance, and the rapid development of sectors such as lightweight vehicles.

[Magnesium Plant Maintenance Dragged Down Weekly Output, Supply Strong and Demand Weak with Continuous Inventory Buildup] This week, the magnesium ingot market in the main production areas retreated after a rapid rise. At the beginning of the week, maintenance positives supported prices, but high downstream inventories and fear of high prices suppressed transactions, with some producers offering discounts to sell, putting magnesium prices under pressure and causing them to weaken. Tianjin port FOB prices passively followed the decline in China’s EXW prices, as sluggish demand during the summer break outside China and elevated ocean freight rates suppressed deals. Dolomite prices were stable, providing limited cost support. Magnesium powder and magnesium alloy prices first declined and then stabilized, following the trend of magnesium ingot. Downstream sectors such as steel mill desulfurization, titanium sponge, and die-casting enterprises entered the off-season, with transactions remaining sluggish, leaving the oversupply pattern unchanged. In the short term, the magnesium market will continue to move sideways.

[SMM Weekly Magnesium Output Briefing] From July 10 to July 16, the weekly output of sampled magnesium plants across the country stood at 22,729 tonnes, with a weekly operating rate of 74.57%, down 2.95% month-on-month. According to surveys, a number of primary magnesium smelting enterprises entered the centralized shutdown and maintenance cycle this week, leading to a continuous decline in the overall operating rate of the industry. Some primary magnesium smelters have resumed production starting this week; considering that a number of producers still have maintenance schedules in the late July, the primary magnesium output will bottom out and stabilize.