Producers Slightly Hold Prices Firm, Weak Demand Drags Magnesium Prices into Consolidation [SMM Spot Magnesium Ingot Express Report]

Published: Jul 3, 2026 16:58

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[Producers Slightly Hold Prices Firm, Weak Demand Drags Magnesium Prices to Consolidate] Today, the quotation for 99.90% magnesium ingot in the main producing area was 15,700-15,800 yuan/mt, down 50 yuan/mt from the previous working day.

SMM July 3 news:

Today, the mainstream magnesium ingot quotation in Fugu was 15,700-15,800 yuan/mt; the FOB China was $2,220-2,330/mt.

The magnesium ingot market continued its weak consolidation pattern today. On the supply side, ex-factory offers for magnesium ingot in major production areas were 15,700-15,800 yuan/mt, with mainstream transactions centered around 15,700 yuan/mt, and concluded transactions were favorable. Later, some producers intended to hold prices firm, raising offers to 15,750 yuan/mt, but no actual transactions took place, intensifying the market tug-of-war. On the demand side, affected by the off-season in and outside China, end-users only made small just-in-time procurement, and new export orders were scarce, resulting in insufficient overall demand support. In the short term, the pattern of strong supply and weak demand is hard to change, and magnesium prices are expected to continue consolidating in a narrow range.

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