Magnesium Ingot Prices Pull Back Under Pressure During National Day Holiday, Market Tug-of-War Intensifies After Holiday [SMM Analysis]
[SMM Magnesium Market Analysis: Magnesium Ingot Prices Under Pressure During National Day Holiday, Market Tug-of-War Intensifies After Holiday] During the National Day holiday, magnesium ingot prices weakened under pressure, with the transaction center pulling back to 15,500 yuan/mt, some cargoes as low as 15,450 yuan/mt, and foreign trade FOB prices pulling back to $2,200/mt. After the holiday, downstream buying was mediocre with strong wait-and-see sentiment. A deep decline is unlikely in the short term, while upside room is limited, and prices are expected to consolidate near the bottom.