Magnesium Market Quotes Edged Up Slightly; Cautious Purchasing Led to Weaker Transactions [SMM Spot Magnesium Ingot Flash Update]

In the main producing areas, mainstream quotations for 99.90% magnesium ingot were 16,650-16,750 yuan/mt, up 50 yuan/mt from yesterday. Upstream enterprises raised today’s quotations to 16,800 yuan/mt, slightly above yesterday’s actual transaction level. Although batch deals were concluded yesterday, there were no new orders following up today; willingness to sell remained cautious, and overall wait-and-see sentiment was strong. On the downstream and trader side, the actual transaction price range still held at 16,700 yuan/mt, while the psychological price level for purchases further retreated to 16,650 yuan/mt, forming a clear price spread with upstream quotations. Overall, affected by raw material prices being under pressure, downstream sensitivity to cost fluctuations increased. Most participants stated they had no plans to enter the market to buy in the near term, with purchase willingness contracting markedly; support from market transactions continued to weaken, and magnesium prices were expected to lack upward momentum.