Domestic Magnesium Ingots Weaken, Market Consolidates at Low Level Amid Sluggish Trading Activity

Published: Aug 6, 2026 17:06

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【SMM Magnesium Weekly Review】This week, domestic magnesium ingots trended weaker overall. As of press time, the mainstream quotation in major producing areas stood at 15,800-15,900 yuan/ton, up 100 yuan/ton week-on-week, while the offshore FOB quotation also weakened in tandem. The domestic market as a whole is consolidating at a low level, with smelting costs forming a bottom support that limits significant downside, yet producers' reluctance to sell has eased somewhat, leading to the emergence of low-priced supplies. Downstream players and traders face insufficient orders, with cautious purchasing sentiment, resulting in generally sluggish trading activity. In terms of foreign trade, overseas summer holidays have not yet concluded, leading to sparse inquiries for offshore goods and evident price suppression from overseas buyers. The supply channel of upstream dolomite has shifted, with ample supply, keeping raw material prices stable. Downstream magnesium powder and magnesium alloys moved weaker in tandem with magnesium ingots; magnesium alloys are seeing weak supply and demand both, with processing fees under pressure. In the short term, magnesium ingots lack upward momentum, and the market is expected to maintain a narrow range oscillation pattern.

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