Pre-Holiday Surplus Drags Down Procurement, Magnesium Market Trading Sluggish with Short-Term Downward Pressure on Prices [SMM Spot Magnesium Ingot Express]

Published: May 6, 2026 17:58

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[Pre-Holiday Surplus Inventory Dragged Down Purchasing, Magnesium Market Trading Sluggish with Short-Term Downward Pressure on Prices] Today, the overall magnesium market trading was sluggish. Smelters maintained firm quotes but offered concessions in some cases. Downstream stocking inventory was sufficient, and the willingness to purchase on demand was weak, leaving short-term magnesium prices under pressure.

SMM News, April 29:

Today, 99.90% magnesium ingot prices in major producing areas were quoted at 16,600-16,700 yuan/mt, basically flat compared with earlier quotes.

Today, the magnesium market saw sluggish trading overall. Supply side, most primary magnesium smelters maintained firm quotes, with mainstream ex-factory prices holding at 16,600-16,700 yuan/mt, while some enterprises in the market made slight concessions to 16,500 yuan/mt for shipments. Demand side, downstream buyers had not yet fully digested the inventory stockpiled before the Labour Day holiday, resulting in low overall purchasing enthusiasm and weak follow-through on actual market transactions. Overall, the magnesium market currently exhibited a pattern of strong supply and weak demand, with transactions struggling to gain meaningful volume, and short-term magnesium prices still had downside room to be under pressure.

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