Magnesium Ingot Quotes Edged Down Slightly; Prices Fell, Volumes Rose, and Transactions Remained Temporarily Stable [SMM Magnesium Ingot Spot Market Flash]

Published: Aug 17, 2026 18:24

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[Magnesium Ingot Quotations Edged Lower, Prices Fell While Volumes Rose and Deals Remained Temporarily Stable] The magnesium ingot market consolidated on a weak note, with mainstream quotations for 99.90% magnesium ingot in the Fugu area at 15,900-16,000 yuan/mt. More low-priced cargoes were available, and the transaction center edged down slightly; FOB was quoted at $2,250-2,350/mt. On the supply side, sellers proactively cut prices amid inventory pressure, while downstream buyers entered the market to restock at an appropriate time. Overall transactions showed a pattern of lower prices and higher volumes, and acceptance of 15,850 yuan/mt was moderate. However, demand remained weak. In markets outside China, affected by high ocean freight rates and exchange-rate fluctuations, firm orders still left room for negotiation, and new orders were scarce. In the short term, it was expected to remain in the doldrums.

SMM Flash Update, August 17:

Today, mainstream quotations for GB-standard 99.90% magnesium ingot in the Fugu area were 15,900-16,000 yuan/mt, and mainstream quotations for GB-standard 99.80% magnesium ingot in the Fugu area were 15,850-15,950 yuan/mt; China FOB prices were $2,250-2,350/mt.

Today, the magnesium ingot market overall remained in the doldrums. Supply side, primary magnesium smelters, affected by inventory pressure, had no choice but to lower quotations, with a notable increase in low-priced supply and a slight downward shift in market quotations. Demand side remained weak with low bid prices; traders’ purchases were mainly for restocking to meet rigid demand, and market trading enthusiasm was insufficient. Markets outside China were also weak. Ocean freight rates stayed at high levels, and coupled with exchange-rate fluctuations, export order-taking enthusiasm was dampened. Firm orders still left room for negotiation, with no sign of a pickup in new orders. Most traders chose to stay on the sidelines at this stage, with weak willingness to replenish and engage in stockpiling. Judging from today’s transactions, primary magnesium smelters offered concessions to spur deals, while downstream buyers entered the market to restock at appropriate times. Overall transactions showed a pattern of lower prices and higher volumes, and market acceptance of the overall 15,850 price level was moderate. As such, the current magnesium ingot market was likely to consolidate on a weak note.

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