Dragged Down by StrongDragged Down by Strong Supply and Weak Demand, Magnesium Prices Fall [SMM Magnesium Ingot Spot Cargo Express]

Published: May 12, 2026 17:45

Save

[Dragged Down by Strong Supply and Weak Demand, Magnesium Prices Fell] Magnesium prices were in the doldrums today. Producers' quotes remained firm in the morning session, but some producers cut prices for shipments in the afternoon, with low-priced supplies increasing. Downstream wait-and-see sentiment was strong, with buyers making just-in-time procurement only, and the market showed a pattern of strong supply and weak demand.

SMM Flash News, April 29:

Today, offers in major producing areas for 99.90% magnesium ingot were 16,350-16,450 yuan/mt, down 50 yuan/mt from the morning offers.

Today, magnesium prices were in the doldrums. Supply side, primary magnesium smelters held firm on their offers in the morning, and market quotations showed a steady trend. In the afternoon, some primary magnesium smelters cut prices again to boost shipments, increasing the availability of low-priced cargoes in the market. Demand side, affected by the sentiment of rushing to buy amid continuous price rise and holding back amid price downturn, downstream end-user producers and traders showed strong wait-and-see sentiment. Current procurement was mainly just-in-time procurement to meet immediate needs, and market transactions were average. Overall, the current supply-demand pattern remained one of strong supply and weak demand, and magnesium prices were in the doldrums.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

Chinese Firm Proposes Magnesium Alloy Project in Turkmenistan to Boost Bilateral Cooperation

[SMM Magnesium Express] At the recent Turkmen-Chinese business forum in Ashgabat, China's Shaanxi Yulin Energy Group proposed establishing a magnesium alloy production project in Turkmenistan. The project aims to combine Turkmenistan's raw material base with the company's technological expertise to create new production capacity and expand bilateral cooperation in resource processing and industrial development.

4 hours ago

[SMM Magnesium Survey] Chinese Firm to Build Magnesium Plant in Turkmenistan Amid Brazil's Anti-Dumping Duties Hike

A Chinese energy and chemical firm plans to build a magnesium alloy project in Turkmenistan, leveraging local resources and Chinese technology. Meanwhile, Brazil sharply raised anti-dumping duties on Chinese magnesium ingots to $4.07/kg, effectively closing direct export channels.

4 hours ago

Brazil Raises Anti-Dumping Duty on Chinese Magnesium Ingots, Impacting Global Trade Landscape

[SMM Magnesium Express] Brazil has recently significantly increased the anti-dumping duty on magnesium ingots originating in China from US$1.18/kg to US$4.07/kg. This measure, which dates back to 2004, has undergone multiple sunset reviews. The current adjustment follows a review initiated at the request of Brazilian domestic enterprises and takes effect from the date of publication. Brazil's primary magnesium output is only ~22,000 t/yr, while import demand reaches 300,000–400,000 t/yr. However, China currently exports almost no magnesium ingots to Brazil. The move could divert other regional supplies into Brazil, indirectly impacting global trade flows of Chinese magnesium downstream and finished products.

4 hours ago