Lack of Follow-Up on Transactions, Magnesium Alloy Market Operated Weakly Today [SMM Spot Magnesium Ingot Bulletin]

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Today, the mainstream tax-inclusive ex-factory price of magnesium alloy in China was 17,750-17,850 yuan/mt, and the mainstream FOB price of magnesium alloy in China was $2,520-2,560/mt.
From the raw material market, the mainstream quotations of magnesium ingot smelting enterprises were 16,000-16,100 yuan/mt, and the mainstream transaction prices were concentrated at 15,950-16,000 yuan/mt. Downstream enterprises maintained just-in-time procurement, with stockpiling enthusiasm lower than the same period last year. However, given that most smelting enterprises are facing cost losses, coupled with Yulin Magnesium Industry's continued acquisition and storage to alleviate the inventory pressure of magnesium plants, the fluctuation range of magnesium prices is limited, and magnesium prices are expected to remain stable in the short term.
Recently, the price of upstream magnesium ingots has tended to stabilize, alleviating the "rush to buy amid continuous price rise and hold back amid price downturn" sentiment caused by raw material price fluctuations. In addition, as downstream die-casting plants and 3C producers stockpiled as needed before the holiday, market sentiment remained stable, and magnesium alloy prices are expected to operate steadily.