SMM

According to SMM data, China's magnesium alloy production in October 2024 increased by 4.9% MoM. In October, the operating rate of magnesium alloy enterprises remained stable overall. The high aluminum prices greatly highlighted the cost-effectiveness of magnesium alloys, leading to a steady increase in end-use attention. Some magnesium alloy enterprises raised their operating rates, but the overall competition in the magnesium alloy market was fierce. The cut-throat competition in processing fee quotations for magnesium alloy orders intensified. In the short term, the likelihood of large-scale new capacity for magnesium alloys coming online is low. SMM expects magnesium alloy production in November to remain at 31,000 mt.