Morning Market Trades Were Smooth, and Producers Held Prices Firm, Consolidated at Lows, and Stabilized. [SMM Spot Magnesium Ingot Flash Report]

Published: Aug 24, 2026 16:56

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[Magnesium Market Quotations Diverged, Trading Weak, Prices Expected to Remain Under Pressure] Today, the main production areas for 99.90% magnesium ingot quoted at 15,800-15,900 yuan/mt, basically flat from earlier quotes.

SMM August 24 Flash News:

Today, the main production areas of 99.90% magnesium ingot quoted 15,800-15,900 yuan/mt, basically flat from earlier quotes.

Today, market quotations for 99.90% magnesium ingot were concentrated at 15,800-15,850 yuan/mt. From the transaction perspective, the morning magnesium market saw widespread transactions at 15,800 yuan/mt with good trading performance. Primary magnesium producers that successfully concluded transactions at 15,800 yuan/mt raised quotations and stopped selling. Overall, high-quality supply at 15,800 yuan/mt was quite tight, and magnesium prices showed a bottoming and stabilizing trend. Specifically, the primary magnesium smelters that conducted maintenance in July have basically resumed production. Overall market spot supply increased significantly compared with the previous period. Primary magnesium producers faced greater pressure to sell, while downstream traders restocked on rigid demand, and market purchasing was relatively rational. The overall market again turned to a supply-strong-demand-weak pattern. However, supported by cost support, the short-term downside room for magnesium prices was relatively limited.

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