Stainless steel mill Qingdao Pohang to conduct 1-week maintenance at end-June

[Magnesium Market Stalemate with Temporary Stability, Transactions Slightly Recover] Today, the 99.90% magnesium ingot price in the main production areas was quoted at 16,300-16,350 yuan/mt, down by 50 yuan/mt from the previous working day.

[SMM Magnesium Express]U.S. company Magrathea announced the completion of a new round of financing, with cumulative capital support exceeding $100 million, accelerating the reconstruction of U.S. magnesium smelting capacity. The company has built the only newly constructed primary magnesium smelter in the U.S., signed multiple commercial agreements, and aims for an annual sales volume of over $500 million in the future. In March 2026, Magrathea secured a $24 million Series A funding round and established Arkansas Magnesia in a joint venture with TETRA. The first-phase commercial plant has initiated engineering design. The company has independently developed a new generation of electrolysis technology, enabling green production of metallic magnesium from seawater and brine. As the project progresses, the U.S. domestic magnesium supply chain's self-sufficiency is expected to gradually strengthen.

[SMM Magnesium Express]Recently, the FOB price of magnesium ingots at Tianjin Port has stabilized at $2,330-$2,400 per ton. Overseas demand remains sluggish, with downstream automakers and die-casting plants adopting a wait-and-see approach, resulting in scarce new orders. The market is supported only by essential demand and long-term contracts. Domestically, manufacturers face inventory accumulation and payment pressure, compounded by planned shutdowns for maintenance at some smaller plants, creating room for negotiation in the market. Due to shipping companies reducing capacity and rising oil prices, freight rates across routes have fluctuated significantly, with tight vessel availability. Prices for routes to Europe, India, and South Korea show marked divergence, further constraining foreign trade deals. In the short term, the FOB price of magnesium ingots is caught between cost support and downward pressure, maintaining a weak and volatile overall trend.