Tug-of-war between sellers and buyers continues, magnesium prices in the doldrums today [SMM magnesium ingot spot express]

Published: Sep 21, 2026 18:13 (GMT+8)

Save

[Supply-demand tug-of-war continues, magnesium prices in the doldrums today] Mainstream quotations from producers centered around 15,800 yuan/mt. Some enterprises proactively lowered their offers to facilitate transactions, with actual deals concluded at as low as 15,750 yuan/mt. However, most producers showed no willingness to sell below 15,800 yuan/mt, as sentiments of holding prices firm and conceding prices coexisted.

SMM September 18 news:

Today, mainstream quotations for 99.90% magnesium ingot in Fugu stood at 15,750-15,850 yuan/mt, and mainstream quotations for 99.80% magnesium ingot in Fugu stood at 15,700-15,800 yuan/mt. China FOB prices were reported at $2,250-2,350/mt.

Supply side, mainstream quotations from producers centered around 15,800 yuan/mt. Some enterprises proactively lowered their offers to facilitate transactions, with low-priced cargoes already seeing actual deals at 15,750 yuan/mt. However, most producers showed no willingness to sell below 15,800 yuan/mt, with both price-holding and price-cutting sentiments coexisting. Demand side, overall demand was extremely weak, and downstream purchase willingness remained subdued. Although inquiries were moderate, actual order follow-through was insufficient. Daily market trading volume was only a few hundred mt, with traders mostly staying on the sidelines. Overall, the short-term supply-demand imbalance is prominent. Under the supply-strong, demand-weak pattern, prices still face downward pressure. Attention should be paid to the pace of downstream restocking and producers' production cuts.

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

23 mins ago

Magnesium Metal's Strategic Role Continues to Grow; Global Primary Magnesium Supply-Demand and Trade Patterns Undergo Restructuring [SMM International Analysis]

[SMM International Analysis: Strategic Attributes of Magnesium Metal Continue to Stand Out, Global Primary Magnesium Supply-Demand and Trade Landscape Restructuring Advances] The competitive focus of global magnesium trade has shifted from "who has the resources" to "who has the capability." Even if new capacity outside China comes online as scheduled, it can only provide limited supplementation at the primary magnesium stage, while China's industry chain advantages in mid-to-high-end segments such as alloying, die-casting, and end-user components are difficult to replicate in the short term. China's magnesium industry is upgrading from the "ballast" of global supply to the "chain leader" of the global industry chain.

23 mins ago

Sep 20, 2026 09:21 (GMT+8)

China's Magnesium Exports Decline in August 2026, Down 3.5% MoM and 13.7% YoY

【SMM Magnesium Flash】According to statistics from the General Administration of Customs, China exported approximately 33,400 tons of various magnesium products in August 2026, marking a month-on-month decrease of 3.5% and a year-on-year decrease of 13.7%. From January to August 2026, China exported a total of approximately 307,000 tons of various magnesium products. Specifically, in August 2026, China exported 18,753 tons of magnesium ingots, marking a month-on-month decrease of 0.5% and a year-on-year decrease of 16.2%; 4,587 tons of magnesium powder, experiencing a significant month-on-month decrease of 24.6% and a year-on-year decrease of 23.0%; and 7,950 tons of magnesium alloys, showing a month-on-month decrease of 1.2% and a year-on-year decrease of 7.2%. The export volume of magnesium products in China continued to decline in August.

Sep 20, 2026 09:21 (GMT+8)

Sep 18, 2026 17:52 (GMT+8)

Tug-of-war Between Supply and Demand Continues, Magnesium Ingot Market Under Pressure as Peak Season Falls Through [SMM Magnesium Ingot Spot Express]

[Supply-Demand Tug-of-War Persists, Magnesium Ingot Market Under Pressure as Peak Season Falls Short] High magnesium ingot inventory combined with increased supply, while domestic and overseas demand remains weak. The September-October peak season failed to materialize. Despite cost support, price hike transmission is sluggish, and the overall market remains under pressure.

Sep 18, 2026 17:52 (GMT+8)