Producers' willingness to hold prices firm rises, magnesium ingot maintains consolidation [SMM magnesium ingot spot express]

Published: Sep 16, 2026 17:59

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[Producers' willingness to hold prices firm rises, magnesium ingot maintains consolidation] The magnesium ingot market consolidated today. Producers chose to hold prices firm, boosted by yesterday's transactions, but downstream purchasing follow-through was weak. Foreign trade orders have not shown sustained recovery, and both domestic and external demand lack growth. The short-term market is expected to remain in consolidation.

SMM September 16 news:

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

The magnesium ingot market consolidated today. Supply side, yesterday's improved transactions strengthened producers' willingness to hold prices firm, with some even raising quotations slightly. Meanwhile, a small number of traders continued to make purchases, but overall trading volume pulled back noticeably from yesterday, and market activity decreased. Yesterday's rigid demand transactions provided some support to the market, but downstream follow-through lacked sustainability. Foreign trade remained stable, with FOB prices holding at $2,250-2,350/mt, basically flat from yesterday. New orders outside China have not yet recovered sustainably, traders maintained a strong wait-and-see sentiment, and proactive stockpiling decreased. Overall, upstream quotations have support, but both domestic and overseas demand lack sustained growth. Amid the tug-of-war between longs and shorts, magnesium ingot prices are likely to consolidate in the short term.

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.

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