Magnesium Market Stagnant but Temporarily Stable; Transactions Recover Slightly [SMM Spot Magnesium Ingot Flash Report]

Published: Jun 15, 2026 18:01

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[Magnesium Market Stalemate with Temporary Stability, Transactions Slightly Recover] Today, the 99.90% magnesium ingot price in the main production areas was quoted at 16,300-16,350 yuan/mt, down by 50 yuan/mt from the previous working day.

SMM June 15 flash:

Today, mainstream quotations for magnesium ingot in the Fugu area were 16,300-16,350 yuan/mt, and China FOB prices were reported at $2,330-2,400/mt.

Today, domestic magnesium ingot quotations edged slightly lower to 16,300-16,350 yuan/mt, while transactions showed some recovery. Tianjin port FOB quotations remained stable at $2,330-2,400/mt. Supply side, large producers’ quotations stabilized, but some small producers plan to conduct maintenance; overall inventory remained high, and supply was ample. Demand side, both domestic and foreign demand remained weak overall, with few new export orders; transactions were mainly based on rigid demand and long-term contracts. Coupled with high oil prices and tight shipping space, ocean freight rates on various routes experienced wild swings and marked increases, further suppressing exports. Overall, in the short term, the magnesium ingot market continues to see strong supply and weak demand. The recovery in transactions is unlikely to turn the overall market around. Domestic and export prices are expected to remain in a stagnant, fluctuating trend.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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