According to Chinese customs statistics, China exported 45700 tons of magnesium products in July, basically the same as in June and an increase of 25.2 percent over the same period last year. Exports in the month totaled 0.229 billion billion US dollars, down 14 percent from the previous month and up 16.8 percent from the same period last year.

From January to July 2022, China exported 305000 tons of various magnesium products, an increase of 13.8 percent over the same period last year, with a cumulative export value of US $1.932 billion billion, an increase of 154.2 percent over the same period last year. According to statistics from Shangmei Network, in June and July this year, the average export unit price ratio of products was US $5823 and US $5011, while the high point in the first seven months of this year was US $6913 in March.

According to the export situation of different varieties, 166200 tons of magnesium ingots were exported in the first seven months, up 11.02 percent from the same period last year. The cumulative export of magnesium alloy was 87200 tons, up 16.42 percent from the same period last year. The cumulative export of magnesium powder was 40400 tons, down 7 percent from the same period last year. The cumulative export of magnesium products was 4335 tons, up 50.2 percent from the same period last year. A total of 3825 tons of waste magnesium were exported, yoY growth of 79.6.%.

According to the analysis of the above data, the monthly export volume and cumulative export volume of magnesium in China in the first seven months of this year are still at a high level. The export volume of magnesium alloy is higher than that of magnesium ingots, and the export volume of magnesium ingots is not low. The export volume of magnesium processed materials and magnesium products also increased significantly, only the export volume of magnesium powder decreased.

In the first seven months, China's magnesium production maintained growth and increased. According to incomplete statistics of the Magnesium Industry Branch, the magnesium output was 73800 tons in May, 79200 tons in June and 71000 tons in July, with a cumulative magnesium output of 545100 tons in the previous July (note that incomplete statistics are available). Based on this data, 56% of magnesium production in the first seven months was exported.

But the growth momentum of the domestic consumer side is insufficient. Taking the aluminum market as an example, the overall situation of the aluminum industry is also poor. According to the data of the National Bureau of statistics, in the first seven months of 2022, the aluminum production decreased by 2.9 year on year. By month, the first two months of aluminum growth of 3.8, 3-6 July production continued negative growth. But at the same time, the export volume of aluminum from January to July was 3.83 million tons, up 29% year on year. In other words, if there is no growth in aluminum exports, domestic aluminum and aluminum production and consumption will have a greater negative growth. Indirectly, the domestic aluminum industry's consumption of magnesium will also follow the decline.

Therefore, under the situation of domestic investment and consumption is not good, and the downward pressure on the economy is greater, whether the export carriage can continue to maintain its strength is related to the stable operation of many industrial chains, and it is related to major issues such as ensuring employment and protecting people's livelihood. Therefore, doing everything possible to protect exports and foreign trade should become the basic consensus of all parties and at all levels.