镁行业月度报告：镁锭价格震荡下滑，下游终端需求除汽车行业外有所回落

Investment Rating - The industry investment rating is "Recommended (Maintain)" [5] Core Viewpoints - The magnesium industry is experiencing a decline in magnesium ingot prices, with downstream demand, except for the automotive sector, showing a decrease [1][2] - The production of raw magnesium in China increased to 81,759 tons in October, a 6.29% rise from the previous month, while the average price of magnesium ingots decreased by 1.1% to 19,361.67 yuan per ton [1][12] - The automotive sector, particularly passenger and new energy vehicles, is seeing an increase in production, with total automotive production reaching 2,996,369 units in October, up 7.16% month-on-month [2][12] Summary by Relevant Sections 1. Monthly Data Changes in the Magnesium Industry - The main price of raw coal in Shaanxi rose to 1,028.95 yuan per ton, a 10.36% increase [12] - The production cost of raw coal in China increased to 1,367.63 yuan per ton, up 4.97% [12] - The production of silicon iron rose to 503,725 tons, a 9.26% increase [12] 2. Monthly Data Trends in the Magnesium Industry - The price of magnesium alloys in Jiangsu, Shaanxi, and Shanxi decreased by 1.63%, 1.7%, and 1.7% respectively [2][12] - The production of magnesium powder decreased to 8,094 tons, a 1.44% decline [2][12] - The export of magnesium products increased by 19.06% to 366.18 tons [2][12] 3. Policy and Development Initiatives - Anhui Province issued a plan to promote the high-quality development of the magnesium-based materials industry, aiming to establish itself as a leading production and application base by 2027, with a target industry scale exceeding 50 billion yuan [3][12]