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[SMM Magnesium Weekly Review: Magnesium Market Pulled Back on Weakness, Export Prices Rose Against the Trend on Policy Impact] The magnesium market was overall in the doldrums this week. Magnesium ingot quotes in major producing areas fell 350 yuan/mt WoW to 17,000-17,150 yuan/mt. Downstream buyers showed strong wait-and-see sentiment, and panic selling accelerated the price decline, with the market entering a phase of rational pullback. Export side, affected by tightened customs supervision on non-compliant exports and dual-use items, FOB quotes rose against the trend by $50/mt on Thursday to $2,500-2,600/mt, with domestic and overseas market trends clearly diverging. Magnesium powder and magnesium alloy prices pulled back along with raw materials, while processing fees remained stable, and the market overall showed strong supply and weak demand. Magnesium prices are expected to see gradually narrowing declines in the short term, with subsequent attention needed on changes in export policies and downstream purchase willingness.