SPDB Linchuan Branch Issues $550M Syndicated Loan for Fuzhou Magnesium Park Development

[Magnesium market stable with weak trading, insufficient demand limits upside] Today, magnesium ingot prices were stable. Producers’ high inventory pressure remained unabated, the demand side was weak and pushed for lower prices, and support for price increases was insufficient. Continued attention should be paid to the subsequent implementation of production halts and maintenance by producers.

[SMM Magnesium Express]Yesterday, Henan Dewei Co., Ltd. was intensifying performance testing and final approval for the second batch of magnesium alloy wheels supplied to Ford in the U.S. The company has independently developed and mastered the core patent for "one-time forward and reverse forging process of magnesium alloy automotive wheels," operating the only two mass production lines for magnesium alloy wheels globally. Its products have been certified by premium automakers such as Mercedes-Benz, BMW, and Porsche, making it the sole domestic magnesium alloy wheel manufacturer capable of mass supplying high-end automakers. With the continuous enhancement of magnesium alloy wheel mass production capabilities, the competitiveness of domestic lightweight components in the international market is expected to further improve.

[Morning Purchases Lift Magnesium Prices Slightly; High Inventory and Weak Demand Cap Upside Room] The quotation for 99.90% magnesium ingot in main production areas was at 15,800-15,900 yuan/mt today, up from the previous working day.