SMM

According to SMM data, China's magnesium powder production saw a slight increase MoM in September 2024. Due to sluggish orders and strong wait-and-see sentiment among downstream enterprises amid fluctuating magnesium ingot prices, some magnesium powder companies remained production low. A representative from a major magnesium powder company stated that due to the sluggish domestic economic situation, steel mills' profits are thin, and frequent changes in magnesium ingot prices have made downstream procurement cautious. Considering that low-priced magnesium ingots might stimulate an increase in magnesium powder orders, SMM expects domestic production in October to remain at 8,000 mt.