Magnesium Ingot Market Remains Stagnant, with No Sign of Export Orders Recovering as Expected in the Short Term [SMM Magnesium Ingot Spot Report]

[Magnesium Market in the Doldrums, No Notable Fluctuations at Week’s Start] Today, magnesium ingot prices remained in the doldrums overall. Producers in major production areas held prices firm, but downstream demand follow-through remained weak. The market is expected to continue moving sideways in the short term.

[Magnesium Ingot in the Doldrums, Demand Caps Rebound Room] This week, mainstream quotations for magnesium ingot in major producing areas were 15,800-15,900 yuan/mt, up 100 yuan/mt WoW, while FOB prices in the overseas market weakened in tandem. The Chinese market consolidated at lows overall, with smelting costs providing bottom support and leaving limited further downside room. However, producers’ hold-back-from-selling sentiment showed signs of easing, and low-priced supplies emerged. Downstream users and traders had insufficient orders and remained cautious in procurement, leaving overall trading sluggish. On the export front, the overseas summer break has not yet ended, with limited inquiries from the overseas market and evident push for lower prices from buyers outside China. Upstream, dolomite supply channels were switched, keeping raw material supply ample and prices stable. Downstream magnesium powder and magnesium alloy followed the magnesium ingot in the doldrums, with the magnesium alloy market showing supply-demand weakness and processing fees under pressure. In the short term, magnesium ingot lacks upward drivers and is expected to continue the pattern of moving sideways.

[SMM Magnesium Express]Chenzhi Light Quantization partnered with Changan Automobile to establish a joint project team, launching an industrialization project for magnesium alloy in new energy vehicles. Together, they aim to build a smart manufacturing base for magnesium alloy components, integrating R&D, trial production, manufacturing, and validation. The project focuses on magnesium alloy electric drive housings while advancing the large-scale production of body structural parts such as rear floors and back door inner panels, creating a closed-loop supply chain from R&D to mass production. With deep collaboration between leading automakers and lightweight material suppliers, the widespread application of magnesium alloy in core components for new energy vehicles is expected to accelerate further.