Transaction Pushed Magnesium Prices Up, Today's Magnesium Prices Hold Up Well [SMM Analysis]

Today, the magnesium market generally stable with slight rise. In the morning, on the supply side, magnesium plants were keen to hold prices firm, with mainstream quotations concentrated at 16,700-16,800 yuan/mt. Some smaller plants were willing to ship at 16,600 yuan/mt, but market inquiries showed a mediocre performance. On the demand side, downstream purchase willingness was weak. A certain aluminum plant indicated it would not accept the current quotation of 16,700 yuan/mt and was waiting for a price adjustment. Regarding traders, some had a psychological purchase price of 16,500 yuan/mt, stating that their clients were also unwilling to place orders even at 16,600 yuan/mt, leading to sluggish market inquiries. In the afternoon, some traders entered the market to buy, and multiple magnesium plants reached transactions at 16,700 yuan/mt. Subsequently, magnesium plants raised their quotations to 16,800 yuan/mt, and magnesium prices held up well.