Magnesium Market Trading Sluggish, Short-Term Doldrums to Persist Amid Supply-Demand Stalemate [SMM Spot Magnesium Ingot Express]

Published: Jun 16, 2026 18:22

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[Mg Market Trading Sluggish; Short-term Doldrums Persist Amid Supply-demand Stalemate]Today, 99.90% magnesium ingot prices in main production areas were quoted at 16,300-16,400 yuan/mt, a decline of 50 yuan/mt from the previous working day.

SMM Flash, Jun 16:

Today, mainstream quotations for magnesium ingot in the Fugu area were 16,300-16,400 yuan/mt, and China FOB prices were $2,330-2,400/mt.

The magnesium ingot market extended its sluggish stalemate today. Supply side, domestic inquiries were sluggish, with ex-factory offers at 16,300 yuan/mt and fewer actual transactions, keeping producer shipment pressure elevated. Demand side, new export orders were scarce, with FOB offers concentrated at $2,330-2,400/mt and some traders quoting on the high side, which dampened downstream buying interest and resulted in sluggish deals. Meanwhile, shipping companies reduced capacity, pushing ocean freight rates higher and further squeezing export margins. Overall, thin domestic trading, blocked exports, and a pronounced supply-demand imbalance will keep magnesium prices in the doldrums in the near term.

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