Firm Prices and Concessions Coexist for Magnesium Ingot, Weak Demand Drags Transactions [SMM Magnesium Ingot Spot Brief]

Published: Jul 14, 2026 17:53

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[Magnesium Ingot: Price Holding and Concessions Coexist, Weak Demand Drags on Transactions] Today, on the supply side, after consecutive price cuts, magnesium ingot producers’ willingness to hold prices firm strengthened, but some continued to offer concessions to facilitate transactions amid inventory pressure. On the demand side, markets in and outside China remained mediocre, with export quotations under pressure. It is expected to be in the doldrums in the short term.

SMM July 14 Brief:

Today, mainstream quotations for GB 99.90% magnesium ingot in Fugu region stood at 15,750-15,850 yuan/mt, while GB 99.80% magnesium ingot in Fugu region was quoted at 15,700-15,800 yuan/mt. China’s FOB prices were reported at $2,220-2,350/mt.

The magnesium ingot market operated narrowly on the weaker side today. Supply side, after successive price cuts for shipments, producers’ willingness to hold prices firm strengthened slightly, with mainstream quotations stabilizing at 15,750 yuan/mt. However, some producers continued to proactively lower their offer prices to ease inventory pressure and facilitate deals, with mainstream transaction prices concentrated at 15,650-15,700 yuan/mt, and overall trading remained sluggish. Demand side, markets in and outside China stayed mediocre, downstream purchasing was insufficient to follow through, and export quotations edged down under pressure. Taken together, the magnesium market may remain in the doldrums in the short term, with attention to potential order recovery and macro tailwinds going forward.

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